Tesla, Inc. $TSLA Position Boosted by Weaver Capital Management LLC

Weaver Capital Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,951 shares of the electric vehicle producer’s stock after acquiring an additional 328 shares during the quarter. Weaver Capital Management LLC’s holdings in Tesla were worth $2,526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Leo Wealth LLC grew its stake in Tesla by 64.8% during the 2nd quarter. Leo Wealth LLC now owns 6,628 shares of the electric vehicle producer’s stock valued at $2,106,000 after acquiring an additional 2,607 shares in the last quarter. McElhenny Sheffield Capital Management LLC grew its stake in Tesla by 4.6% during the 2nd quarter. McElhenny Sheffield Capital Management LLC now owns 2,323 shares of the electric vehicle producer’s stock valued at $738,000 after acquiring an additional 102 shares in the last quarter. MSH Capital Advisors LLC grew its stake in Tesla by 21.2% during the 2nd quarter. MSH Capital Advisors LLC now owns 2,338 shares of the electric vehicle producer’s stock valued at $743,000 after acquiring an additional 409 shares in the last quarter. Copperwynd Financial LLC grew its stake in Tesla by 2.6% during the 2nd quarter. Copperwynd Financial LLC now owns 20,390 shares of the electric vehicle producer’s stock valued at $6,477,000 after acquiring an additional 523 shares in the last quarter. Finally, US Bancorp DE grew its stake in Tesla by 6.2% during the 2nd quarter. US Bancorp DE now owns 356,579 shares of the electric vehicle producer’s stock valued at $113,271,000 after acquiring an additional 20,888 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last three months. 19.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. William Blair reissued a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $355.00 price target on shares of Tesla in a research note on Friday, October 3rd. The Goldman Sachs Group boosted their price target on Tesla from $395.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Finally, Stifel Nicolaus set a $483.00 price target on Tesla and gave the company a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $354.67.

Tesla Stock Down 5.1%

Shares of Tesla stock opened at $413.49 on Friday. The stock has a market capitalization of $1.37 trillion, a P/E ratio of 239.01, a PEG ratio of 15.81 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average price of $375.97 and a two-hundred day moving average price of $327.51. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company 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 firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current 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.