Tesla, Inc. $TSLA Shares Purchased by Naviter Wealth LLC

Naviter Wealth LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,663 shares of the electric vehicle producer’s stock after purchasing an additional 54 shares during the quarter. Tesla accounts for 1.2% of Naviter Wealth LLC’s portfolio, making the stock its 14th largest position. Naviter Wealth LLC’s holdings in Tesla were worth $9,423,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC lifted its holdings in 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 buying an additional 44 shares during the last quarter. First PREMIER Bank lifted its holdings in 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 buying an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla during the 1st quarter worth approximately $27,000. Newton One Investments LLC lifted its holdings in 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 buying an additional 75 shares during the last quarter. Finally, Chelsea Counsel Co. lifted its holdings in 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 buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’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 sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last quarter. Insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Piper Sandler increased their target price on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. TD Cowen increased their target price on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. The Goldman Sachs Group raised their price target on Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Finally, Stifel Nicolaus set a $483.00 price target on Tesla and gave the stock a “buy” rating in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $363.03.

Tesla Price Performance

TSLA opened at $429.24 on Wednesday. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.12, a PEG ratio of 15.71 and a beta of 2.08. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average price of $380.91 and a 200 day moving average price of $330.17.

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

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.