Prostatis Group LLC Has $1.87 Million Position in Tesla, Inc. $TSLA

Key Points

• Prostatis Group LLC increased its stake in Tesla, Inc. by 11.5% during the second quarter, now holding 5,870 shares valued at approximately $1.87 million.
• Analysts have adjusted Tesla's stock price targets, with Wedbush raising it to $600 and Goldman Sachs increasing theirs to $425, reflecting positive sentiment around the company's performance.
• Tesla reported a decrease in quarterly revenue by 11.8% year-over-year, coming in at $22.50 billion, which missed analysts' estimates of $23.18 billion.

Prostatis Group LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,870 shares of the electric vehicle producer's stock after acquiring an additional 606 shares during the quarter. Prostatis Group LLC's holdings in Tesla were worth $1,865,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC grew its stake in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank grew its stake in shares of Tesla by 79.2% in the 1st 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 bought a new stake in shares of Tesla in the 1st quarter valued at approximately $27,000. Newton One Investments LLC grew its stake in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares in the last quarter. Finally, Chelsea Counsel Co. grew its stake in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wedbush boosted their price target on Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. UBS Group set a $247.00 target price on Tesla in a report on Monday, October 6th. William Blair restated a "market perform" rating on shares of Tesla in a report on Friday, September 5th. The Goldman Sachs Group boosted their target price on Tesla from $395.00 to $425.00 and gave the stock a "neutral" rating in a report on Friday, October 3rd. Finally, Robert W. Baird upgraded Tesla from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $320.00 to $548.00 in a report on Friday, September 19th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $363.03.

Tesla Stock Up 5.4%

Shares of TSLA stock opened at $435.90 on Tuesday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The firm has a market cap of $1.45 trillion, a PE ratio of 251.97, a price-to-earnings-growth ratio of 14.92 and a beta of 2.08. The stock has a 50 day moving average of $378.50 and a 200-day moving average of $329.48. 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 (NASDAQ:TSLA - Get Free Report) last issued 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 business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the firm earned $0.52 earnings per share. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred 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 transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last three months. 19.90% of the stock is currently owned by insiders.

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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