Providence Wealth Advisors LLC Acquires 290 Shares of Tesla, Inc. $TSLA

Providence Wealth Advisors LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 20.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,736 shares of the electric vehicle producer’s stock after buying an additional 290 shares during the period. Providence Wealth Advisors LLC’s holdings in Tesla were worth $557,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. First Merchants Corp grew its position in shares of Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after acquiring an additional 31 shares during the period. Alaska Wealth Advisors grew its holdings in Tesla by 3.4% during the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after purchasing an additional 32 shares during the period. KWB Wealth grew its holdings in Tesla by 2.4% during the second 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 during the period. Conrad Siegel Investment Advisors Inc. raised its stake in shares of Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after buying an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. lifted 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 valued at $1,622,000 after buying an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TSLA shares. Bank of America lifted their price objective on Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. HSBC reiterated a “reduce” rating on shares of Tesla in a research note on Monday, November 17th. New Street Research upped their price target on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. DZ Bank reiterated a “sell” rating on shares of Tesla in a research note on Thursday, October 23rd. Finally, Truist Financial increased their target price on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $394.31.

Tesla Stock Down 1.0%

TSLA opened at $391.09 on Friday. The company has a fifty day moving average price of $433.55 and a 200-day moving average price of $364.93. The firm has a market capitalization of $1.30 trillion, a P/E ratio of 260.73, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter last year, the business posted $0.72 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.