Tesla, Inc. $TSLA Holdings Raised by Nadler Financial Group Inc.

Nadler Financial Group Inc. boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.2% in the second quarter, Holdings Channel reports. The institutional investor owned 10,627 shares of the electric vehicle producer’s stock after acquiring an additional 233 shares during the quarter. Nadler Financial Group Inc.’s holdings in Tesla were worth $3,376,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Merchants Corp lifted its position in Tesla by 1.3% in the 2nd 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 raised its holdings in shares of Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after purchasing an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. raised its holdings in shares of 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. raised its holdings in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after purchasing an additional 34 shares in the last quarter. Finally, Acorn Creek Capital LLC raised its holdings in shares of Tesla by 1.6% during the 2nd quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer’s stock valued at $697,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TSLA shares. CICC Research raised their price target on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. JPMorgan Chase & Co. raised their price target on shares of Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. Industrial Alliance Securities set a $300.00 price target on shares of Tesla in a report on Monday. HSBC raised their price target on shares of Tesla from $120.00 to $127.00 in a report on Monday, September 29th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $410.00 target price on shares of Tesla in a research note on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $363.03.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction 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 directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction 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 sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last ninety days. Insiders own 19.90% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $429.24 on Wednesday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm’s fifty day simple moving average is $380.91 and its 200 day simple moving average is $330.17. 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 firm has a market capitalization of $1.43 trillion, a PE ratio of 248.12, a PEG ratio of 15.71 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted 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). The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.