Knights of Columbus Asset Advisors LLC Buys 2,573 Shares of Tesla, Inc. $TSLA

Key Points

• Knights of Columbus Asset Advisors LLC increased its stake in Tesla by 5.4%, acquiring an additional 2,573 shares, bringing its total to 49,795 shares valued at approximately $15.8 million.
• Institutional investors significantly boosted their positions in Tesla, with Goldman Sachs increasing its holdings by 322.1% and other firms like Kingstone Capital and Amundi also making substantial purchases during the recent quarters.
• Analysts have varying ratings on Tesla, with a consensus rating of "Hold" and a price target around $344.40, while some analysts have rated it as a "Buy" and are projecting continued growth.

Knights of Columbus Asset Advisors LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,795 shares of the electric vehicle producer's stock after buying an additional 2,573 shares during the period. Tesla makes up approximately 1.0% of Knights of Columbus Asset Advisors LLC's portfolio, making the stock its 17th biggest position. Knights of Columbus Asset Advisors LLC's holdings in Tesla were worth $15,818,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Tesla in the 1st quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its position in Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares in the last quarter. Amundi boosted its stake in 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 purchasing an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TSLA. Royal Bank Of Canada reaffirmed a "buy" rating on shares of Tesla in a research report on Friday, September 26th. Baird R W raised shares of Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Piper Sandler increased their target price on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a report on Monday, September 22nd. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Benchmark reaffirmed a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $344.40.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by company insiders.

Tesla Stock Up 5.4%

TSLA opened at $453.25 on Tuesday. The company's 50-day moving average price is $366.57 and its two-hundred day moving average price is $324.02. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock has a market cap of $1.51 trillion, a price-to-earnings ratio of 261.99, a PEG ratio of 14.93 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly 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 company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the firm posted $0.52 EPS. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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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