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

Key Points

• CVA Family Office LLC increased its stake in Tesla by 13.9%, bringing its total holdings to 8,402 shares valued at approximately $2.67 million.
• Insider trading activity included significant sales from CFO Vaibhav Taneja and SVP Xiaotong Zhu, with Taneja selling 2,606 shares and Zhu selling 20,000 shares, indicating a decrease in insider ownership.
• Analysts maintain mixed ratings on Tesla, with a consensus of "Hold" and an average price target of $381.70, reflecting a range of buy and sell ratings from different firms.

CVA Family Office LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,402 shares of the electric vehicle producer's stock after acquiring an additional 1,027 shares during the quarter. CVA Family Office LLC's holdings in Tesla were worth $2,669,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. First Merchants Corp raised its holdings in Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer's stock valued at $767,000 after buying an additional 31 shares in the last quarter. Alaska Wealth Advisors increased its stake in shares of Tesla by 3.4% in 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. KWB Wealth increased its stake in shares of Tesla by 2.4% in the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock worth $439,000 after purchasing an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. increased its stake in shares of Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock worth $310,000 after purchasing an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. increased its stake in Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock valued at $1,622,000 after acquiring an additional 34 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the 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 transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. 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. Corporate insiders own 19.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TSLA shares. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Melius started coverage on Tesla in a research note on Monday, October 13th. They set a "buy" rating and a $520.00 price target on the stock. Guggenheim restated a "sell" rating and set a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Bank of America lifted their price objective on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, China Renaissance lifted their price objective on Tesla from $349.00 to $380.00 and gave the company a "hold" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the company's stock. According to data from MarketBeat.com, Tesla has a consensus rating of "Hold" and an average price target of $381.70.

Tesla Trading Down 3.4%

Shares of Tesla stock traded down $15.26 on Friday, hitting $433.72. 94,342,620 shares of the company's stock traded hands, compared to its average volume of 89,161,216. The firm's 50-day moving average price is $398.06 and its two-hundred day moving average price is $339.92. The stock has a market capitalization of $1.44 trillion, a PE ratio of 289.15, a price-to-earnings-growth ratio of 16.13 and a beta of 2.08. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion during the quarter, compared to analysts' expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.

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