Capital Investment Advisors LLC Boosts Holdings in Tesla, Inc. $TSLA

Capital Investment Advisors LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 37.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,882 shares of the electric vehicle producer’s stock after purchasing an additional 8,921 shares during the period. Capital Investment Advisors LLC’s holdings in Tesla were worth $10,445,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC boosted its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank boosted its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla during the 1st quarter worth $27,000. Finally, Chelsea Counsel Co. boosted its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by insiders.

Tesla Trading Up 0.3%

Shares of TSLA stock opened at $444.72 on Wednesday. The firm has a 50-day moving average price of $356.59 and a 200 day moving average price of $317.64. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 257.06, a PEG ratio of 15.46 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the previous year, the firm posted $0.52 EPS. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Mizuho boosted their target price on shares of Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 23rd. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Argus reiterated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Stifel Nicolaus set a $440.00 price objective on shares of Tesla in a research report on Friday, September 5th. Finally, Benchmark reiterated a “buy” rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $337.15.

Tesla Company Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.