Salomon & Ludwin LLC Boosts Holdings in Tesla, Inc. $TSLA

Key Points

• Salomon & Ludwin LLC increased its holdings in Tesla, Inc. by 57.1%, owning 1,808 shares valued at approximately $571,000 after acquiring an additional 657 shares in the second quarter.
• Multiple institutional investors, including Goldman Sachs, Vanguard, and Amundi, have also significantly increased their positions in Tesla during the first quarter, collectively illustrating a robust interest from hedge funds.
• Tesla's stock has been positively reviewed by analysts, with new price targets set by firms like JPMorgan Chase and Mizuho, reflecting a consensus rating of "Hold" with a price target of $363.54.

Salomon & Ludwin LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 57.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,808 shares of the electric vehicle producer's stock after buying an additional 657 shares during the period. Salomon & Ludwin LLC's holdings in Tesla were worth $571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Tesla by 1.5% in the first 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 period. Goldman Sachs Group Inc. lifted its holdings in Tesla by 322.1% in the first 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 period. Charles Schwab Investment Management Inc. lifted its holdings in Tesla by 4.9% in the first 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 period. Amundi lifted its holdings in Tesla by 29.4% in the first 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 period. Finally, Invesco Ltd. lifted its holdings in Tesla by 17.6% in the first 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 period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on TSLA. JPMorgan Chase & Co. raised their target price on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Benchmark reaffirmed a "buy" rating and set a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Piper Sandler lifted their price target on Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a research note on Monday, September 22nd. Finally, Mizuho lifted their price target on Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and a consensus price target of $363.54.

Tesla Stock Up 2.5%

TSLA opened at $439.31 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 253.94, a price-to-earnings-growth ratio of 15.79 and a beta of 2.08. The business has a 50-day moving average of $387.54 and a two-hundred day moving average of $333.60. 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 posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was 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 of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 in the last 90 days. 19.90% of the stock is owned by company insiders.

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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