PDS Planning Inc Buys 1,173 Shares of Tesla, Inc. $TSLA

PDS Planning Inc boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 8.1% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 15,608 shares of the electric vehicle producer’s stock after buying an additional 1,173 shares during the period. PDS Planning Inc’s holdings in Tesla were worth $4,958,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Merchants Corp increased its holdings in shares of Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after buying an additional 31 shares in the last quarter. KWB Wealth grew its position in Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after acquiring an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. increased its holdings in Tesla by 3.6% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after purchasing an additional 34 shares in the last quarter. Guyasuta Investment Advisors Inc. boosted its stake in Tesla by 0.7% in the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after purchasing an additional 34 shares in the last quarter. Finally, Kelly Financial Services LLC boosted its stake in Tesla by 2.7% in the second quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer’s stock worth $423,000 after purchasing an additional 35 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% 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 valued at $75,588,902 in the last ninety days. 19.90% of the stock is owned by insiders.

Tesla Stock Performance

Shares of Tesla stock opened at $413.49 on Friday. The firm has a fifty day moving average of $375.97 and a two-hundred day moving average of $327.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 239.01, a PEG ratio of 15.01 and a beta of 2.08. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the firm earned $0.52 earnings per share. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tesla in a report on Wednesday. HSBC boosted their target price on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Glj Research reissued a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. The Goldman Sachs Group boosted their price objective on shares of Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $355.00 price objective on shares of Tesla in a research report on Friday, October 3rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $354.67.

About Tesla

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.