Concord Asset Management LLC VA Grows Holdings in Tesla, Inc. $TSLA

Concord Asset Management LLC VA grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,385 shares of the electric vehicle producer's stock after acquiring an additional 1,726 shares during the period. Concord Asset Management LLC VA's holdings in Tesla were worth $2,664,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC grew its holdings in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank grew its holdings in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC grew its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla in the first quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. grew its holdings in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA opened at $429.24 on Wednesday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.43 trillion, a P/E ratio of 248.12, a PEG ratio of 15.71 and a beta of 2.08. The company has a 50-day moving average of $380.91 and a two-hundred day moving average of $330.17. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business's revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Morgan Stanley restated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a report on Thursday, October 2nd. William Blair reiterated a "market perform" rating on shares of Tesla in a report on Friday, September 5th. The Goldman Sachs Group boosted their price target on shares of Tesla from $395.00 to $425.00 and gave the stock a "neutral" rating in a report on Friday, October 3rd. Evercore ISI boosted their price target on shares of Tesla from $235.00 to $300.00 and gave the stock an "in-line" rating in a report on Monday. Finally, Dbs Bank boosted their price target on shares of Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company's stock. Based on data from MarketBeat, Tesla currently has an average rating of "Hold" and an average target price of $363.03.

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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