Brian Low Financial Group LLC Acquires New Stake in Tesla, Inc. $TSLA

Key Points

• Brian Low Financial Group LLC has acquired a new stake in Tesla, Inc., purchasing 1,416 shares valued at approximately $450,000 in the second quarter.
• Tesla's CFO and a director both recently sold significant amounts of stock, with the CFO selling 2,606 shares and the director selling 120,000 shares, reducing their ownership stakes.
• Several analysts have updated their ratings and price targets for Tesla, with HSBC increasing their target to $127.00 and Truist Financial raising theirs to $406.00, indicating continued interest in the stock.

Brian Low Financial Group LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,416 shares of the electric vehicle producer's stock, valued at approximately $450,000.

Other hedge funds have also recently bought and sold shares of 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 worth $767,000 after buying an additional 31 shares during the period. Alaska Wealth Advisors boosted its stake in Tesla by 3.4% in the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer's stock valued at $313,000 after acquiring 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 acquiring an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. lifted its stake in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock valued at $310,000 after purchasing an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. boosted its position in shares of Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock worth $1,622,000 after purchasing an additional 34 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on TSLA shares. Benchmark reissued a "buy" rating on shares of Tesla in a research note on Thursday. DZ Bank reiterated a "sell" rating on shares of Tesla in a research report on Thursday. HSBC boosted their price objective on shares of Tesla from $120.00 to $127.00 in a report on Monday, September 29th. Truist Financial increased their target price on shares of Tesla from $280.00 to $406.00 and gave the stock a "hold" rating in a report on Thursday. Finally, Wall Street Zen raised shares of Tesla from a "sell" rating to a "hold" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and an average price target of $381.70.

Tesla Trading Down 3.4%

NASDAQ TSLA opened at $433.72 on Friday. 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 stock's 50 day moving average price is $398.06 and its two-hundred day moving average price is $339.92. The stock has a market capitalization 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 (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analysts' expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 EPS. As a group, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.

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