650 Shares in Tesla, Inc. $TSLA Purchased by Loudon Investment Management LLC

Key Points

• Loudon Investment Management LLC acquired a new position in Tesla, purchasing 650 shares valued at approximately $206,000 during the 2nd quarter.
• Institutional investors now hold 66.20% of Tesla's stock, reflecting increased interest from large investors in the company.
• Wall Street analysts have set varying price targets for Tesla, with Mizuho increasing their target to $450.00 and Piper Sandler raising theirs to $500.00, indicating a generally optimistic outlook.

Loudon Investment Management LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 650 shares of the electric vehicle producer's stock, valued at approximately $206,000.

Several other large investors have also recently bought and sold shares of TSLA. Brighton Jones LLC lifted its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC raised its holdings in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares in the last quarter. Bison Wealth LLC lifted its position in shares of Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after acquiring an additional 3,558 shares during the period. Hennion & Walsh Asset Management Inc. lifted its position in shares of Tesla by 3.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 4,605 shares of the electric vehicle producer's stock worth $1,193,000 after acquiring an additional 165 shares during the period. Finally, Apella Capital LLC grew its holdings in shares of Tesla by 17.6% during the 1st quarter. Apella Capital LLC now owns 4,399 shares of the electric vehicle producer's stock worth $1,197,000 after purchasing an additional 658 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TSLA shares. Mizuho lifted their price target on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 23rd. Piper Sandler lifted their target price on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research report on Monday, September 22nd. Bank of America increased their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. Finally, Glj Research reiterated a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat.com, Tesla currently has an average rating of "Hold" and an average target price of $341.46.

Tesla Trading Down 5.1%

NASDAQ:TSLA opened at $436.00 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 252.02, a PEG ratio of 15.97 and a beta of 2.08. The business's 50-day moving average price is $361.74 and its two-hundred day moving average price is $319.98.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. On average, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction 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 transaction, the senior vice president owned 47,600 shares in the company, 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 hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,606 shares of company stock worth $77,360,462. Corporate 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.

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