Sloy Dahl & Holst LLC Buys 11,408 Shares of Tesla, Inc. $TSLA

Key Points

• Sloy Dahl & Holst LLC has increased its stake in Tesla, Inc. by 1.0%, now owning 1,175,409 shares worth approximately $373 million, making it Tesla's largest institutional holder.
• Several other institutional investors, including LifeWealth Investments LLC and RNC Capital Management LLC, have also raised their stakes in Tesla during the second quarter, reflecting growing confidence in the company's performance.
• Analysts' ratings for Tesla vary widely, with Guggenheim issuing a "sell" rating and a price target of $175, while Robert W. Baird set a new target of $548, demonstrating significant divergence in market sentiment.

Sloy Dahl & Holst LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,175,409 shares of the electric vehicle producer's stock after buying an additional 11,408 shares during the quarter. Tesla makes up approximately 51.9% of Sloy Dahl & Holst LLC's portfolio, making the stock its biggest position. Sloy Dahl & Holst LLC's holdings in Tesla were worth $373,380,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. LifeWealth Investments LLC raised its stake in Tesla by 35.5% during the 2nd quarter. LifeWealth Investments LLC now owns 5,081 shares of the electric vehicle producer's stock worth $1,614,000 after buying an additional 1,330 shares during the period. RNC Capital Management LLC raised its stake in shares of Tesla by 7.2% in the second quarter. RNC Capital Management LLC now owns 10,700 shares of the electric vehicle producer's stock worth $3,399,000 after purchasing an additional 723 shares during the last quarter. Paragon Financial Partners Inc. raised its stake in shares of Tesla by 2.8% in the second quarter. Paragon Financial Partners Inc. now owns 2,991 shares of the electric vehicle producer's stock worth $950,000 after purchasing an additional 81 shares during the last quarter. Ethic Inc. raised its stake in shares of Tesla by 5.9% in the second quarter. Ethic Inc. now owns 156,885 shares of the electric vehicle producer's stock worth $50,773,000 after purchasing an additional 8,708 shares during the last quarter. Finally, Meadow Creek Wealth Advisors LLC raised its stake in shares of Tesla by 10.8% in the second quarter. Meadow Creek Wealth Advisors LLC now owns 1,401 shares of the electric vehicle producer's stock worth $445,000 after purchasing an additional 136 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction that occurred on 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 directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business'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 transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Guggenheim reissued a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. HSBC upped their target price on Tesla from $120.00 to $127.00 in a report on Monday, September 29th. Morgan Stanley reissued an "overweight" rating on shares of Tesla in a report on Wednesday, October 15th. Melius Research set a $520.00 price objective on Tesla and gave the company a "buy" rating in a report on Monday, October 13th. Finally, Robert W. Baird raised Tesla from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $320.00 to $548.00 in a report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Tesla currently has an average rating of "Hold" and an average price target of $366.95.

Tesla Stock Down 0.8%

Shares of NASDAQ:TSLA opened at $438.97 on Thursday. The stock's 50-day moving average price is $393.73 and its 200-day moving average price is $336.97. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 253.74, a price-to-earnings-growth ratio of 15.91 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analysts' expectations of $24.98 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla's quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.