Tesla, Inc. $TSLA Stake Raised by MCF Advisors LLC

MCF Advisors LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 26.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,632 shares of the electric vehicle producer's stock after purchasing an additional 969 shares during the period. MCF Advisors LLC's holdings in Tesla were worth $1,472,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its position in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after acquiring an additional 849,091 shares during the last quarter. Amundi raised its position in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Tesla by 17.6% during the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock valued at $3,832,047,000 after purchasing an additional 2,211,300 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated 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 directly owned 47,600 shares in the company, 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 SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were 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 position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock worth $77,360,462 in the last quarter. 19.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TSLA shares. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Bank of America lifted their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Piper Sandler raised their price objective on shares of Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a research note on Monday. CICC Research lifted their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. Finally, The Goldman Sachs Group increased their target price on Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a report on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $326.74.

Tesla Stock Down 1.9%

Shares of TSLA stock opened at $425.85 on Wednesday. The stock's 50 day simple moving average is $345.33 and its 200 day simple moving average is $310.67. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 246.16, a PEG ratio of 15.15 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) 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 company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the company earned $0.52 EPS. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current 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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