Naples Global Advisors LLC Increases Stock Holdings in Tesla, Inc. $TSLA

Naples Global Advisors LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,594 shares of the electric vehicle producer’s stock after buying an additional 112 shares during the quarter. Naples Global Advisors LLC’s holdings in Tesla were worth $1,459,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TSLA. KWB Wealth lifted its holdings in shares of Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after purchasing an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. lifted its stake in Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after buying an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. grew its position in shares of Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after acquiring an additional 34 shares during the last quarter. Kelly Financial Services LLC increased its holdings in shares of Tesla by 2.7% in the 2nd quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer’s stock valued at $423,000 after acquiring an additional 35 shares during the period. Finally, Acorn Wealth Advisors LLC raised its position in Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after purchasing an additional 36 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

TSLA stock opened at $429.83 on Friday. The firm has a 50 day moving average of $364.02 and a 200-day moving average of $321.39. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.46, a PEG ratio of 15.15 and a beta of 2.08. 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, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 EPS. The business’s revenue was down 11.8% on a year-over-year basis. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. The trade was a 40.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 208,606 shares of company stock worth $77,360,462. Insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Stifel Nicolaus set a $440.00 price target on Tesla in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft boosted their price target on Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Argus reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Finally, Mizuho boosted their target price on Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a report on Tuesday, September 23rd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $343.43.

About Tesla

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.