Oliver Lagore Vanvalin Investment Group Takes Position in Tesla, Inc. $TSLA

Key Points

• Oliver Lagore Vanvalin Investment Group invested approximately $794,000 in Tesla, Inc., purchasing 2,500 shares in the second quarter.
• Major institutional investors, like Vanguard Group and Goldman Sachs, have significantly increased their stakes in Tesla, reflecting growing confidence in the company.
• Following disappointing quarterly earnings, analysts have mixed opinions on Tesla's stock, with estimates suggesting it may post 2.56 earnings per share for the current fiscal year.

Oliver Lagore Vanvalin Investment Group bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,500 shares of the electric vehicle producer's stock, valued at approximately $794,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC lifted its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank lifted its stake in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla during the first quarter valued at about $27,000. Newton One Investments LLC increased its holdings in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares during the last quarter. Finally, Chelsea Counsel Co. boosted its position in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 40 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 208,606 shares of company stock worth $77,360,462. Company insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TSLA shares. Canaccord Genuity Group raised their target price on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Wedbush reaffirmed an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research note on Monday, September 15th. Morgan Stanley restated an "overweight" rating and set a $410.00 price objective on shares of Tesla in a research report on Friday, September 5th. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Finally, Piper Sandler lifted their target price on Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $326.74.

Tesla Stock Down 0.4%

TSLA stock traded down $1.68 on Tuesday, reaching $432.54. 28,389,975 shares of the company traded hands, compared to its average volume of 102,937,211. The company has a market cap of $1.44 trillion, a P/E ratio of 250.45, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. The firm has a fifty day simple moving average of $343.03 and a 200-day simple moving average of $309.87. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter last year, the firm posted $0.52 earnings per share. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. Research analysts anticipate 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.