Catalyst Capital Advisors LLC Grows Stock Holdings in Tesla, Inc. $TSLA

Catalyst Capital Advisors LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 52.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,778 shares of the electric vehicle producer’s stock after purchasing an additional 613 shares during the period. Catalyst Capital Advisors LLC’s holdings in Tesla were worth $565,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TSLA. First Merchants Corp boosted its holdings 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 purchasing an additional 31 shares during the last quarter. Alaska Wealth Advisors boosted its holdings in shares of Tesla by 3.4% during the 2nd 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 last quarter. KWB Wealth raised its position in shares of 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 buying an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. raised its position in shares of Tesla by 3.6% during the 2nd 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 in the last quarter. Finally, Guyasuta Investment Advisors Inc. raised 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 in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $433.72 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.55. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The firm has a market capitalization of $1.44 trillion, a P/E ratio of 289.15, a price-to-earnings-growth ratio of 16.13 and a beta of 2.08. The company’s 50-day moving average is $398.06 and its 200 day moving average is $339.92.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.72 EPS. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, 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 transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president 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 disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last three months. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TSLA. Glj Research restated a “sell” rating on shares of Tesla in a research report on Wednesday. UBS Group set a $247.00 target price on shares of Tesla in a research report on Monday, October 6th. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research report on Wednesday, October 15th. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Finally, Truist Financial upped their target price on shares of Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a research report on Thursday. 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $380.03.

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.