Focus Partners Advisor Solutions LLC Buys 3,453 Shares of Tesla, Inc. $TSLA

Focus Partners Advisor Solutions LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.3% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 36,826 shares of the electric vehicle producer’s stock after acquiring an additional 3,453 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Tesla were worth $11,705,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in 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 valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in Tesla in the 1st quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC boosted its holdings in Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Amundi increased its holdings in shares of 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 purchasing an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. raised its holdings 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 valued at $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. DZ Bank reissued a “sell” rating on shares of Tesla in a report on Thursday. Piper Sandler lifted their price target on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. Roth Capital set a $505.00 price target on Tesla and gave the company a “buy” rating in a research note on Thursday. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Finally, TD Cowen boosted their target price on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $380.03.

Tesla Stock Down 3.4%

Tesla stock opened at $433.72 on Friday. The firm has a market cap of $1.44 trillion, a price-to-earnings ratio of 289.15, a PEG ratio of 16.13 and a beta of 2.08. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.07. The firm has a 50 day moving average price of $398.06 and a two-hundred day moving average price of $339.92.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 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 6.61%. The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period in the prior year, the firm posted $0.72 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. Equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

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

Tesla 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.