Tesla, Inc. $TSLA Shares Acquired by Callan Family Office LLC

Key Points

• Callan Family Office LLC increased its stake in Tesla, Inc. by 224.7% in the second quarter, now holding 75,567 shares valued at approximately $24 million.
• Institutional investors collectively own 66.20% of Tesla's stock, with several firms significantly increasing their holdings in the same quarter.
• Analysts have diverse views on Tesla, with a consensus price target of $354.67, while the stock has seen contrasting ratings from "Strong Buy" to "Sell."

Callan Family Office LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 224.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 75,567 shares of the electric vehicle producer's stock after buying an additional 52,294 shares during the quarter. Tesla accounts for about 0.8% of Callan Family Office LLC's portfolio, making the stock its 19th largest holding. Callan Family Office LLC's holdings in Tesla were worth $24,005,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Blair William & Co. IL lifted its holdings in shares of Tesla by 10.9% in the 2nd quarter. Blair William & Co. IL now owns 283,552 shares of the electric vehicle producer's stock valued at $90,073,000 after buying an additional 27,874 shares during the period. Game Plan Financial Advisors LLC lifted its holdings in shares of Tesla by 160.7% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 1,379 shares of the electric vehicle producer's stock valued at $438,000 after buying an additional 850 shares during the period. Weaver Capital Management LLC lifted its holdings in shares of Tesla by 4.3% in the 2nd quarter. Weaver Capital Management LLC now owns 7,951 shares of the electric vehicle producer's stock valued at $2,526,000 after buying an additional 328 shares during the period. Leo Wealth LLC lifted its holdings in shares of Tesla by 64.8% in the 2nd quarter. Leo Wealth LLC now owns 6,628 shares of the electric vehicle producer's stock valued at $2,106,000 after buying an additional 2,607 shares during the period. Finally, McElhenny Sheffield Capital Management LLC lifted its holdings in shares of Tesla by 4.6% in the 2nd quarter. McElhenny Sheffield Capital Management LLC now owns 2,323 shares of the electric vehicle producer's stock valued at $738,000 after buying an additional 102 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Guggenheim restated a "sell" rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. UBS Group set a $247.00 price target on Tesla in a research note on Monday. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. The Goldman Sachs Group lifted their price target on Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a research note on Friday, October 3rd. Finally, Dbs Bank lifted their price target on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company's stock. According to MarketBeat.com, Tesla has an average rating of "Hold" and a consensus price target of $354.67.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred on 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 completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at $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 202,606 shares of company stock worth $75,588,902 over the last ninety days. Corporate insiders own 19.90% of the company's stock.

Tesla Price Performance

NASDAQ:TSLA opened at $413.49 on Friday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a 50 day moving average of $375.97 and a two-hundred day moving average of $327.51. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.37 trillion, a P/E ratio of 239.01, a price-to-earnings-growth ratio of 15.81 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter last year, the firm posted $0.52 earnings per share. Tesla's quarterly revenue was down 11.8% on a year-over-year basis. On average, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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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