Cadent Capital Advisors LLC Increases Stake in Tesla, Inc. $TSLA

Key Points

• Cadent Capital Advisors LLC significantly increased its stake in Tesla, Inc. by 81.2% in the second quarter, now owning 6,856 shares valued at approximately $2.18 million.
• Several institutional investors also enlarged their holdings in Tesla during the first quarter, with Vanguard Group Inc. and Goldman Sachs Group Inc. boosting their shares by 1.5% and 322.1% respectively.
• Insiders, including CFO Vaibhav Taneja and Director James R. Murdoch, sold a total of 208,606 shares of Tesla stock in recent transactions, indicating a slight decrease in ownership.

Cadent Capital Advisors LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 81.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 6,856 shares of the electric vehicle producer's stock after purchasing an additional 3,072 shares during the quarter. Cadent Capital Advisors LLC's holdings in Tesla were worth $2,178,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.5% during 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 during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Tesla by 322.1% during 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 acquiring an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after acquiring an additional 849,091 shares during the last quarter. Amundi boosted its holdings in shares of Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock valued at $3,832,047,000 after acquiring an additional 2,211,300 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on 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 owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,606 shares of company stock worth $77,360,462. Company insiders own 19.90% of the company's stock.

Tesla Price Performance

NASDAQ TSLA opened at $440.40 on Friday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a market cap of $1.46 trillion, a price-to-earnings ratio of 254.57, a PEG ratio of 14.77 and a beta of 2.06. The company's 50 day moving average is $352.05 and its two-hundred day moving average is $314.42. 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 (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the business posted $0.52 EPS. Tesla's revenue was down 11.8% on a year-over-year basis. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSLA. Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday, June 9th. Canaccord Genuity Group raised their price objective on shares of Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Bank of America raised their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Stifel Nicolaus set a $440.00 price objective on shares of Tesla in a report on Friday, September 5th. Finally, Benchmark reissued a "buy" rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $332.33.

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.

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