TFB Advisors LLC Grows Holdings in Tesla, Inc. $TSLA

Key Points

• TFB Advisors LLC increased its stake in Tesla, Inc. by 22.7%, acquiring a total of 5,234 shares valued at approximately $1.66 million.
• Several institutional investors also increased their holdings during the same period, with notable increases from Exencial Wealth Advisors LLC (35.1%) and Family Capital Management Inc. (16.4%).
• Insider sales included significant transactions by Xiaotong Zhu, who sold 20,000 shares for over $7.2 million, indicating a decrease in insider ownership.

TFB Advisors LLC raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,234 shares of the electric vehicle producer's stock after purchasing an additional 969 shares during the period. TFB Advisors LLC's holdings in Tesla were worth $1,663,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Members Trust Co purchased a new stake in Tesla in the 2nd quarter valued at about $266,000. Family Capital Management Inc. grew its holdings in Tesla by 16.4% in the 2nd quarter. Family Capital Management Inc. now owns 1,688 shares of the electric vehicle producer's stock valued at $536,000 after buying an additional 238 shares during the period. Exencial Wealth Advisors LLC grew its holdings in Tesla by 35.1% in the 2nd quarter. Exencial Wealth Advisors LLC now owns 23,070 shares of the electric vehicle producer's stock valued at $7,328,000 after buying an additional 5,988 shares during the period. Phillips Financial Management LLC grew its holdings in Tesla by 3.3% in the 2nd quarter. Phillips Financial Management LLC now owns 3,869 shares of the electric vehicle producer's stock valued at $1,229,000 after buying an additional 123 shares during the period. Finally, Jacobsen Capital Management grew its holdings in Tesla by 28.8% in the 2nd quarter. Jacobsen Capital Management now owns 5,627 shares of the electric vehicle producer's stock valued at $1,787,000 after buying an additional 1,258 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling

In other Tesla 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 transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on TSLA shares. JPMorgan Chase & Co. lifted their price target on Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Stifel Nicolaus set a $483.00 price objective on Tesla and gave the company a "buy" rating in a research note on Wednesday, October 8th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $355.00 price objective on shares of Tesla in a research note on Tuesday. HSBC lifted their price objective on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Finally, Glj Research reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the company. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and an average target price of $363.54.

Tesla Stock Performance

Tesla stock opened at $442.60 on Wednesday. The stock's 50 day moving average price is $391.74 and its 200 day moving average price is $336.26. The firm has a market capitalization of $1.47 trillion, a PE ratio of 255.84, a price-to-earnings-growth ratio of 16.08 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results 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). The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business's revenue was down 11.8% on a year-over-year basis. During the same period last year, the firm posted $0.52 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS 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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