Pittenger & Anderson Inc. Has $427,000 Stake in Tesla, Inc. $TSLA

Pittenger & Anderson Inc. lowered its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,345 shares of the electric vehicle producer’s stock after selling 249 shares during the period. Pittenger & Anderson Inc.’s holdings in Tesla were worth $427,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI acquired a new position in Tesla during the 1st quarter valued at about $27,000. Chelsea Counsel Co. boosted its stake in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Evergreen Private Wealth LLC boosted 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 purchasing an additional 81 shares during the last quarter. Centennial Bank AR boosted its stake in Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Finally, Compass Wealth Management LLC boosted its stake in Tesla by 360.0% during the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $442.60 on Wednesday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. 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 business’s 50 day simple moving average is $391.74 and its 200 day simple moving average is $336.26. The company has a market cap of $1.47 trillion, a price-to-earnings ratio of 255.84, a PEG ratio of 16.08 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 during the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the previous year, the company posted $0.52 EPS. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, 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. Over the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TSLA. Evercore ISI boosted their target price on Tesla from $235.00 to $300.00 and gave the stock an “in-line” rating in a research note on Monday, October 13th. Guggenheim restated a “sell” rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. China Renaissance restated a “hold” rating and issued a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Finally, Dbs Bank boosted their target price on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the stock. According to MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $363.54.

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.