Avidian Wealth Enterprises LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,862 shares of the electric vehicle producer's stock after purchasing an additional 1,260 shares during the period. Avidian Wealth Enterprises LLC's holdings in Tesla were worth $4,086,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of TSLA. Brighton Jones LLC grew its holdings in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC grew its holdings in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the period. Bison Wealth LLC grew its holdings in shares of Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after acquiring an additional 3,558 shares during the period. GAMMA Investing LLC grew its holdings in shares of Tesla by 6.0% in the 1st quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer's stock worth $9,812,000 after acquiring an additional 2,153 shares during the period. Finally, Crews Bank & Trust grew its holdings in shares of Tesla by 42.9% in the 1st quarter. Crews Bank & Trust now owns 323 shares of the electric vehicle producer's stock worth $84,000 after acquiring an additional 97 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the company. Bank of America upped their price target on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Evercore ISI upped their target price on Tesla from $235.00 to $300.00 and gave the company an "in-line" rating in a research note on Monday, October 13th. Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. CICC Research upped their target price on Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a research note on Thursday, September 18th. Finally, HSBC upped their target price on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $363.54.
Get Our Latest Analysis on TSLA
Tesla Trading Up 1.8%
Shares of Tesla stock opened at $447.43 on Tuesday. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The firm has a market cap of $1.49 trillion, a PE ratio of 258.63, a P/E/G ratio of 15.79 and a beta of 2.08. The business's fifty day moving average is $389.71 and its two-hundred day moving average is $335.51. 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 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the company earned $0.52 EPS. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.
Insiders Place Their Bets
In other news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction 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 sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last quarter. 19.90% of the stock is currently owned by company insiders.
Tesla Company Profile
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Free Report)
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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