Tesla, Inc. $TSLA Shares Bought by Praxis Investment Management Inc.

Key Points

• Praxis Investment Management Inc. increased its holdings in Tesla by 2.2%, now owning 61,070 shares valued at approximately $19.4 million.
• Tesla reported earnings per share of $0.40 for the last quarter, missing analysts' estimates, and saw revenue down 11.8% year-over-year.
• Institutional investors currently own 66.20% of Tesla's stock, reflecting significant interest from financial institutions.

Praxis Investment Management Inc. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,070 shares of the electric vehicle producer's stock after acquiring an additional 1,340 shares during the quarter. Tesla makes up approximately 1.2% of Praxis Investment Management Inc.'s holdings, making the stock its 14th biggest holding. Praxis Investment Management Inc.'s holdings in Tesla were worth $19,399,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the period. First PREMIER Bank increased its position in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Tesla during the 1st quarter valued at about $27,000. Chelsea Counsel Co. grew its position in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 40 shares during the last quarter. Finally, Centennial Bank AR grew 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 worth $29,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 1.5%

NASDAQ TSLA opened at $428.75 on Friday. 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 stock's 50 day moving average is $385.34 and its two-hundred day moving average is $332.07. The company has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 247.83, a PEG ratio of 15.64 and a beta of 2.08. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

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

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction 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 transaction, the senior vice president owned 47,600 shares of the company's stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Benchmark reaffirmed a "buy" rating and set a $475.00 price target (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Mizuho lifted their target price on Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a research note on Tuesday, September 23rd. Morgan Stanley restated an "overweight" rating on shares of Tesla in a research note on Wednesday. Finally, Bank of America lifted their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $363.54.

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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