Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Naviter Wealth LLC

Naviter Wealth LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 19.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,249 shares of the electric vehicle producer’s stock after acquiring an additional 3,578 shares during the period. Naviter Wealth LLC’s holdings in Tesla were worth $4,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new stake in shares of Tesla in the second quarter valued at about $25,000. OLD Point Trust & Financial Services N A acquired a new stake in Tesla in the 4th quarter valued at about $37,000. Kessler Investment Group LLC boosted its holdings in shares of Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares during the last quarter. Aspect Partners LLC grew its position in shares of Tesla by 121.3% in the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after purchasing an additional 114 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in shares of Tesla in the second quarter valued at approximately $42,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Roth Mkm reissued a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. William Blair began coverage on shares of Tesla in a research report on Thursday, August 29th. They set an “outperform” rating on the stock. Piper Sandler restated an “overweight” rating and set a $300.00 price objective on shares of Tesla in a research report on Monday, August 19th. TD Cowen lifted their target price on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Finally, Robert W. Baird reissued an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research note on Tuesday, August 20th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $204.21.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA remained flat at $214.11 during trading on Tuesday. 35,730,336 shares of the company’s stock traded hands, compared to its average volume of 97,170,289. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The firm’s fifty day simple moving average is $222.63 and its 200 day simple moving average is $193.01. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The stock has a market cap of $684.00 billion, a P/E ratio of 55.20, a PEG ratio of 5.55 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period in the previous year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts expect that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

Tesla Company 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.