Keudell Morrison Wealth Management Raises Position in Tesla, Inc. $TSLA

Keudell Morrison Wealth Management grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,146 shares of the electric vehicle producer’s stock after acquiring an additional 170 shares during the period. Keudell Morrison Wealth Management’s holdings in Tesla were worth $364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSLA. Vanguard Group Inc. lifted its position in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after buying an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after acquiring an additional 849,091 shares during the period. Amundi boosted its stake in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock worth $3,832,047,000 after purchasing an additional 2,211,300 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $453.25 on Tuesday. The firm’s 50-day moving average price is $366.57 and its 200-day moving average price is $324.02. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a market cap of $1.51 trillion, a PE ratio of 261.99, a PEG ratio of 14.93 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data 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 company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the previous year, the firm earned $0.52 earnings per share. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. The Goldman Sachs Group lifted their price objective on Tesla from $395.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday. Piper Sandler raised their price target on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. HSBC upped their price target on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Tesla in a research note on Friday, September 26th. Two investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $344.40.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last ninety days. 19.90% of the stock is currently owned by company insiders.

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.