Tesla, Inc. $TSLA Holdings Boosted by Southeast Asset Advisors LLC

Southeast Asset Advisors LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 31.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,529 shares of the electric vehicle producer’s stock after purchasing an additional 2,517 shares during the quarter. Southeast Asset Advisors LLC’s holdings in Tesla were worth $3,345,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. LGT Financial Advisors LLC bought a new position in Tesla in the 2nd quarter worth about $29,000. Chelsea Counsel Co. grew its holdings in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares in the last quarter. Evergreen Private Wealth LLC raised its stake in Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares in the last quarter. Glynn Capital Management LLC bought a new position in shares of Tesla in the second quarter worth $35,000. Finally, LSV Asset Management increased its holdings in shares of Tesla by 400.0% during the second quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Barclays reaffirmed a “negative” rating and issued a $350.00 price objective (up previously from $275.00) on shares of Tesla in a report on Thursday, October 16th. Evercore ISI upped their target price on Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Cowen reaffirmed a “buy” rating on shares of Tesla in a report on Monday, November 17th. The Goldman Sachs Group lowered their price objective on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Finally, Piper Sandler increased their target price on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $394.31.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 82,606 shares of company stock valued at $33,554,102. 19.90% of the stock is owned by insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $417.78 on Tuesday. The business has a fifty day simple moving average of $433.71 and a 200 day simple moving average of $366.49. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The firm has a market cap of $1.39 trillion, a price-to-earnings ratio of 278.52, a P/E/G ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.72 EPS. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.