Prairie Wealth Advisors Inc. Trims Stake in Tesla, Inc. $TSLA

Prairie Wealth Advisors Inc. reduced its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,329 shares of the electric vehicle producer’s stock after selling 309 shares during the period. Prairie Wealth Advisors Inc.’s holdings in Tesla were worth $422,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Siren L.L.C. purchased a new position in shares of Tesla during the 1st quarter valued at $2,332,000. Zuckerman Investment Group LLC lifted its holdings in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after acquiring an additional 826 shares during the last quarter. Keystone Global Partners LLC bought a new stake in shares of Tesla during the 1st quarter worth $594,000. Strs Ohio bought a new stake in shares of Tesla during the 1st quarter worth $205,495,000. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after acquiring an additional 46,087 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TSLA. Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a report on Monday, October 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. Piper Sandler boosted their price target on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, September 22nd. Guggenheim reissued a “sell” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and eleven have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $388.51.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $461.51 on Thursday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The company’s 50-day moving average is $405.79 and its 200 day moving average is $345.40. The stock has a market capitalization of $1.53 trillion, a P/E ratio of 307.67, a P/E/G ratio of 16.81 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the previous year, the company earned $0.72 earnings per share. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated 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 completion of 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 position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by company insiders.

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.