Guardian Asset Advisors LLC Boosts Stake in Tesla, Inc. $TSLA

Guardian Asset Advisors LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.8% in the second quarter, HoldingsChannel reports. The firm owned 5,159 shares of the electric vehicle producer’s stock after buying an additional 187 shares during the period. Tesla accounts for about 0.9% of Guardian Asset Advisors LLC’s holdings, making the stock its 26th biggest holding. Guardian Asset Advisors LLC’s holdings in Tesla were worth $1,639,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. boosted its position in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Tesla by 4.9% in 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 purchasing an additional 849,091 shares during the period. Amundi boosted its holdings 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 buying an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. grew its position in Tesla by 17.6% during the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after buying an additional 2,211,300 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 2.3%

Shares of TSLA stock opened at $448.98 on Friday. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The firm has a market capitalization of $1.49 trillion, a P/E ratio of 299.32, a PEG ratio of 15.78 and a beta of 2.08. The stock’s fifty day moving average is $396.00 and its two-hundred day moving average is $338.45. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.72%. The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. Research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TSLA. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research report on Wednesday, October 15th. BNP Paribas Exane started coverage on Tesla in a report on Thursday, October 16th. They set an “underperform” rating and a $307.00 target price for the company. Truist Financial lifted their price target on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research note on Thursday. Bank of America boosted their price target on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have issued a Hold rating and eleven have given a Sell rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $380.97.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the firm’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 sale, the director directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by company insiders.

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.