Drake & Associates LLC Purchases 59 Shares of Tesla, Inc. $TSLA

Drake & Associates LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 7.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 897 shares of the electric vehicle producer’s stock after acquiring an additional 59 shares during the quarter. Drake & Associates LLC’s holdings in Tesla were worth $285,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. grew its holdings in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after purchasing an additional 849,091 shares during the period. Amundi grew its holdings in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Finally, Invesco Ltd. grew its holdings in Tesla by 17.6% during the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after purchasing an additional 2,211,300 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $433.09 on Wednesday. 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 company has a market capitalization of $1.44 trillion, a P/E ratio of 250.34, a P/E/G ratio of 15.75 and a beta of 2.08. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The business’s 50-day moving average is $368.81 and its 200 day moving average is $324.77.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on TSLA shares. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Canaccord Genuity Group boosted their price objective on Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Cantor Fitzgerald restated an “overweight” rating and issued a $355.00 price objective on shares of Tesla in a research report on Friday, October 3rd. Piper Sandler boosted their price objective on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Finally, Benchmark restated a “buy” rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Two equities 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $344.40.

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.