Forvis Mazars Wealth Advisors LLC Acquires 878 Shares of Tesla, Inc. $TSLA

Forvis Mazars Wealth Advisors LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.7% during the second quarter, HoldingsChannel reports. The firm owned 8,387 shares of the electric vehicle producer’s stock after purchasing an additional 878 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Tesla were worth $2,664,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. First Merchants Corp boosted its holdings in shares of Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after purchasing an additional 31 shares during the period. KWB Wealth raised its position in Tesla by 2.4% during 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 in the last quarter. Conrad Siegel Investment Advisors Inc. lifted its holdings in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after buying an additional 34 shares during the period. Guyasuta Investment Advisors Inc. grew its position in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after buying an additional 34 shares in the last quarter. Finally, Acorn Creek Capital LLC increased its position in Tesla by 1.6% during the 2nd quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer’s stock valued at $697,000 after purchasing an additional 34 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

NASDAQ TSLA opened at $439.31 on Monday. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.94, a PEG ratio of 15.79 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock’s fifty day moving average price is $387.54 and its 200 day moving average price is $334.06. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly 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 for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were 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 of the company’s stock, 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 worth $75,588,902 over the last 90 days. 19.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on TSLA shares. Industrial Alliance Securities set a $300.00 target price on Tesla in a research report on Monday, October 13th. Evercore ISI lifted their target price on Tesla from $235.00 to $300.00 and gave the company an “in-line” rating in a research note on Monday, October 13th. China Renaissance reissued a “hold” rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average price target of $363.54.

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.