Windle Wealth LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 77.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,722 shares of the electric vehicle producer's stock after acquiring an additional 751 shares during the quarter. Windle Wealth LLC's holdings in Tesla were worth $547,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Morey & Quinn Wealth Partners LLC boosted its stake in Tesla by 2.0% in the second quarter. Morey & Quinn Wealth Partners LLC now owns 3,096 shares of the electric vehicle producer's stock valued at $983,000 after acquiring an additional 60 shares during the last quarter. Peak Financial Management Inc. purchased a new position in Tesla in the second quarter valued at about $216,000. Maryland State Retirement & Pension System boosted its stake in Tesla by 4.8% in the second quarter. Maryland State Retirement & Pension System now owns 136,418 shares of the electric vehicle producer's stock valued at $43,335,000 after acquiring an additional 6,241 shares during the last quarter. Optas LLC boosted its stake in Tesla by 51.9% in the second quarter. Optas LLC now owns 6,053 shares of the electric vehicle producer's stock valued at $1,923,000 after acquiring an additional 2,069 shares during the last quarter. Finally, First Merchants Corp boosted its stake in Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer's stock valued at $767,000 after acquiring an additional 31 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on TSLA shares. Dbs Bank upped their price target on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Morgan Stanley restated an "overweight" rating and set a $410.00 price target on shares of Tesla in a research note on Thursday, October 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Tesla in a research note on Wednesday. Wedbush upped their price target on shares of Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. Finally, Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and upped their price target for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $349.37.
Read Our Latest Research Report on Tesla
Insider Buying and Selling
In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were 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 $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the 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 transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company's stock.
Tesla Stock Performance
Tesla stock opened at $435.54 on Friday. The firm's 50 day simple moving average is $373.75 and its 200 day simple moving average is $326.64. 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 firm has a market capitalization of $1.45 trillion, a PE ratio of 251.76, a price-to-earnings-growth ratio of 16.04 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 posted its 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). The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate 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 company posted $0.52 EPS. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Tesla 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.
See Also
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