Prostatis Group LLC Purchases 606 Shares of Tesla, Inc. $TSLA

Prostatis Group LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.5% during the second quarter, HoldingsChannel.com reports. The firm owned 5,870 shares of the electric vehicle producer’s stock after buying an additional 606 shares during the period. Prostatis Group LLC’s holdings in Tesla were worth $1,865,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Cherry Tree Wealth Management LLC grew its position in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank grew its position in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC grew its position in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new stake in Tesla in the first quarter valued at $27,000. Finally, Chelsea Counsel Co. grew its position in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last 90 days. 19.90% of the stock is owned by company insiders.

Tesla Trading Up 5.4%

Shares of TSLA opened at $435.90 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The firm has a market capitalization of $1.45 trillion, a PE ratio of 251.97, a price-to-earnings-growth ratio of 14.92 and a beta of 2.08. The stock’s fifty day simple moving average is $378.50 and its 200-day simple moving average is $329.48.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the company earned $0.52 EPS. The company’s revenue was down 11.8% compared to the same quarter last year. As a group, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

TSLA has been the topic of a number of analyst reports. William Blair reiterated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Piper Sandler increased their target price on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $320.00 to $548.00 in a report on Friday, September 19th. The Goldman Sachs Group increased their target price on Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday, October 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $355.00 target price on shares of Tesla in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $363.03.

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.