Tesla, Inc. $TSLA Position Increased by Calamos Wealth Management LLC

Key Points

• Calamos Wealth Management LLC increased its Tesla holdings by 8.8% in Q2, now owning 28,913 shares valued at approximately $9.2 million.
• Analysts have raised price targets for Tesla, with TD Cowen setting a target of $509 and Royal Bank of Canada raising theirs to $500, fostering a generally positive sentiment.
• Insider activity shows significant sales, including SVP Xiaotong Zhu selling 20,000 shares for $7.3 million and Director James R. Murdoch selling 60,000 shares for over $25 million, indicating a possible shift in insider confidence.

Calamos Wealth Management LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,913 shares of the electric vehicle producer's stock after purchasing an additional 2,348 shares during the period. Calamos Wealth Management LLC's holdings in Tesla were worth $9,185,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. First PREMIER Bank boosted its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the period. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla during the first quarter valued at $27,000. Chelsea Counsel Co. grew its position in shares of 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 acquiring an additional 40 shares during the last quarter. Evergreen Private Wealth LLC increased its holdings in shares of Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer's stock worth $35,000 after acquiring an additional 81 shares during the period. Finally, Centennial Bank AR lifted its position in Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TSLA shares. TD Cowen raised their price target on shares of Tesla from $374.00 to $509.00 and gave the company a "buy" rating in a research note on Thursday, October 9th. Royal Bank Of Canada lifted their target price on Tesla from $325.00 to $500.00 and gave the company an "outperform" rating in a research note on Friday, October 10th. HSBC increased their price target on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. UBS Group set a $247.00 price objective on shares of Tesla in a report on Monday, October 6th. Finally, Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Two investment 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 given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $363.54.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla 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 transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company's stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by corporate insiders.

Tesla Stock Performance

TSLA opened at $439.31 on Monday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.46 trillion, a PE ratio of 253.94, a P/E/G ratio of 15.79 and a beta of 2.08. The business has a fifty day simple moving average of $387.54 and a 200-day simple moving average of $334.06. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its 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 company 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 company's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company 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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