Vance Wealth Inc. Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Vance Wealth Inc. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,824 shares of the electric vehicle producer’s stock after acquiring an additional 1,757 shares during the period. Vance Wealth Inc.’s holdings in Tesla were worth $1,944,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bank & Trust Co acquired a new position in Tesla during the 2nd quarter valued at approximately $25,000. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla in the 4th quarter valued at $37,000. Kessler Investment Group LLC raised its stake in Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 51 shares during the last quarter. Aspect Partners LLC lifted its position in Tesla by 121.3% during the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after acquiring an additional 114 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in Tesla during the 2nd quarter valued at about $42,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 target price on shares of Tesla in a report on Monday, July 1st. KGI Securities restated a “neutral” rating and set a $236.00 price objective on shares of Tesla in a research note on Thursday, July 25th. Piper Sandler reissued an “overweight” rating and set a $300.00 target price on shares of Tesla in a report on Monday, August 19th. Robert W. Baird reaffirmed an “outperform” rating and issued a $280.00 price target on shares of Tesla in a report on Tuesday, August 20th. Finally, Sanford C. Bernstein reissued an “underperform” rating and issued a $120.00 price objective on shares of Tesla in a report on Monday, June 10th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $204.21.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction 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 directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 25.10% of the stock is currently owned by insiders.

Tesla Stock Up 4.2 %

Shares of TSLA opened at $219.41 on Thursday. The company’s 50-day moving average price is $223.55 and its 200 day moving average price is $193.27. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $278.98. The firm has a market cap of $700.94 billion, a P/E ratio of 55.97, a price-to-earnings-growth ratio of 5.55 and a beta of 2.29.

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