Schnieders Capital Management LLC Buys 4,406 Shares of Tesla, Inc. $TSLA

Key Points

• Schnieders Capital Management LLC increased its stake in Tesla, Inc. by 94.2% in the second quarter, acquiring an additional 4,406 shares, bringing its total holdings to 9,085 shares valued at approximately $2.89 million.
• Several other institutional investors, including ODonnell Financial Services LLC and Calamos Wealth Management LLC, also adjusted their positions in Tesla during the same period, contributing to a significant institutional ownership of 66.20%.
• Insider transactions revealed a notable decrease in stakes, with SVP Xiaotong Zhu selling 20,000 shares and Director James R. Murdoch selling 60,000 shares within recent months, indicating a trend among company insiders to reduce their positions.

Schnieders Capital Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 94.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,085 shares of the electric vehicle producer's stock after buying an additional 4,406 shares during the period. Schnieders Capital Management LLC's holdings in Tesla were worth $2,886,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. ODonnell Financial Services LLC bought a new position in Tesla in the second quarter worth approximately $212,000. Alaska Wealth Advisors raised its position in shares of Tesla by 3.4% during the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer's stock worth $313,000 after purchasing an additional 32 shares during the period. LMG Wealth Partners LLC lifted its holdings in shares of Tesla by 6.7% in the 2nd quarter. LMG Wealth Partners LLC now owns 12,448 shares of the electric vehicle producer's stock worth $3,954,000 after purchasing an additional 784 shares in the last quarter. Northeast Investment Management grew its position in Tesla by 1.2% in the 2nd quarter. Northeast Investment Management now owns 22,805 shares of the electric vehicle producer's stock valued at $7,244,000 after purchasing an additional 265 shares during the period. Finally, Calamos Wealth Management LLC increased its stake in Tesla by 8.8% during the 2nd quarter. Calamos Wealth Management LLC now owns 28,913 shares of the electric vehicle producer's stock valued at $9,185,000 after purchasing an additional 2,348 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the 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 completion of the transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares of the company's stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last ninety days. Company insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TSLA shares. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. The Goldman Sachs Group upped their target price on shares of Tesla from $395.00 to $425.00 and gave the stock a "neutral" rating in a report on Friday, October 3rd. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. China Renaissance reissued a "hold" rating and issued a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Finally, Piper Sandler raised their target price on Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $363.54.

Tesla Price Performance

Tesla stock opened at $439.31 on Monday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company's 50 day moving average price is $387.54 and its two-hundred day moving average price is $334.06. The stock has a market cap of $1.46 trillion, a P/E ratio of 253.94, a P/E/G ratio of 15.79 and a beta of 2.08. 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). The business had revenue of $22.50 billion for 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 business's revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 earnings per share. On average, equities analysts predict 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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