V Wealth Advisors LLC reduced its position in Tesla Inc (NASDAQ:TSLA) by 34.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 345 shares of the electric vehicle producer’s stock after selling 180 shares during the quarter. V Wealth Advisors LLC’s holdings in Tesla were worth $373,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Chicago Capital LLC bought a new stake in shares of Tesla during the 2nd quarter valued at approximately $245,000. GWM Advisors LLC grew its holdings in shares of Tesla by 40.1% during the 2nd quarter. GWM Advisors LLC now owns 2,511 shares of the electric vehicle producer’s stock valued at $2,711,000 after purchasing an additional 719 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management bought a new stake in shares of Tesla during the 2nd quarter valued at approximately $523,000. American Research & Management Co. grew its holdings in Tesla by 5.8% during the 2nd quarter. American Research & Management Co. now owns 145 shares of the electric vehicle producer’s stock worth $157,000 after acquiring an additional 8 shares during the last quarter. Finally, First Quadrant L P CA grew its holdings in Tesla by 213.6% during the 2nd quarter. First Quadrant L P CA now owns 2,603 shares of the electric vehicle producer’s stock worth $2,811,000 after acquiring an additional 1,773 shares during the last quarter. 50.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TSLA opened at $1,430.76 on Friday. The firm’s 50 day simple moving average is $1,259.00 and its 200 day simple moving average is $833.62. The company has a market capitalization of $275.74 billion, a P/E ratio of 774.73, a P/E/G ratio of 25.76 and a beta of 1.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.25 and a quick ratio of 0.87. Tesla Inc has a 1-year low of $211.00 and a 1-year high of $1,794.99.
Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 22nd. The electric vehicle producer reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of ($2.35) by $4.53. Tesla had a net margin of 1.43% and a return on equity of 4.19%. The business had revenue of $6.04 billion for the quarter, compared to analysts’ expectations of $4.96 billion. During the same period last year, the business earned ($1.12) earnings per share. On average, equities analysts anticipate that Tesla Inc will post 1.65 earnings per share for the current year.
In other Tesla news, CAO Vaibhav Taneja sold 887 shares of the stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $1,558.75, for a total transaction of $1,382,611.25. Following the transaction, the chief accounting officer now directly owns 2,806 shares in the company, valued at $4,373,852.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Andrew D. Baglino sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $785.75, for a total transaction of $1,571,500.00. Following the transaction, the senior vice president now owns 6,145 shares in the company, valued at $4,828,433.75. The disclosure for this sale can be found here. Insiders have sold 23,910 shares of company stock worth $24,705,348 over the last quarter. Company insiders own 23.00% of the company’s stock.
A number of equities research analysts have weighed in on TSLA shares. BofA Securities boosted their target price on shares of Tesla from $500.00 to $800.00 and gave the stock an “underperform” rating in a report on Wednesday, July 22nd. Credit Suisse Group reiterated a “neutral” rating on shares of Tesla in a research report on Tuesday. Wedbush boosted their price target on shares of Tesla from $1,000.00 to $1,250.00 and gave the company a “neutral” rating in a research note on Thursday, July 2nd. Piper Sandler restated an “overweight” rating and set a $939.00 price target on shares of Tesla in a research note on Tuesday, July 14th. Finally, Robert W. Baird boosted their price target on shares of Tesla from $984.00 to $1,658.00 in a research note on Thursday, July 23rd. Thirteen investment analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $846.94.
Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Netherlands, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.
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