Catalyst Capital Advisors LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 31.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,670 shares of the electric vehicle producer’s stock after purchasing an additional 881 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Tesla were worth $961,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the stock. Maryland State Retirement & Pension System grew its stake in Tesla by 3.5% during the second quarter. Maryland State Retirement & Pension System now owns 211,295 shares of the electric vehicle producer’s stock valued at $55,311,000 after acquiring an additional 7,176 shares in the last quarter. Pachira Investments Inc. purchased a new stake in Tesla in the second quarter valued at approximately $209,000. Sigma Planning Corp lifted its position in Tesla by 10.4% during the second quarter. Sigma Planning Corp now owns 76,219 shares of the electric vehicle producer’s stock valued at $19,952,000 after purchasing an additional 7,154 shares during the last quarter. Ulland Investment Advisors LLC grew its stake in Tesla by 72.4% in the 2nd quarter. Ulland Investment Advisors LLC now owns 762 shares of the electric vehicle producer’s stock worth $199,000 after buying an additional 320 shares in the last quarter. Finally, Nadler Financial Group Inc. raised its position in shares of Tesla by 0.5% during the 2nd quarter. Nadler Financial Group Inc. now owns 10,613 shares of the electric vehicle producer’s stock valued at $2,778,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 41.87% of the company’s stock.
Insider Buying and Selling at Tesla
In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $210.67, for a total transaction of $2,212,035.00. Following the completion of the transaction, the senior vice president now owns 68,102 shares of the company’s stock, valued at approximately $14,347,048.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $250.02, for a total transaction of $1,000,080.00. Following the sale, the chief financial officer now owns 104,504 shares in the company, valued at $26,128,090.08. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $210.67, for a total transaction of $2,212,035.00. Following the completion of the transaction, the senior vice president now owns 68,102 shares of the company’s stock, valued at $14,347,048.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,065 shares of company stock valued at $10,248,880. Corporate insiders own 25.10% of the company’s stock.
Tesla Price Performance
Shares of TSLA stock opened at $214.65 on Friday. The business’s fifty day moving average is $241.67 and its 200 day moving average is $234.59. The company has a quick ratio of 1.18, a current ratio of 1.69 and a debt-to-equity ratio of 0.04. The stock has a market cap of $682.36 billion, a price-to-earnings ratio of 69.02, a PEG ratio of 3.90 and a beta of 2.28. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $299.29.
Tesla (NASDAQ:TSLA – Get Free Report) last released its earnings results on Wednesday, October 18th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). Tesla had a return on equity of 21.47% and a net margin of 11.21%. The business had revenue of $23.35 billion during the quarter, compared to analysts’ expectations of $24.19 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 2.7 EPS for the current fiscal year.
Analyst Ratings Changes
Several research analysts recently issued reports on TSLA shares. StockNews.com lowered shares of Tesla from a “hold” rating to a “sell” rating in a research report on Monday, October 23rd. Truist Financial decreased their price objective on Tesla from $254.00 to $243.00 and set a “hold” rating on the stock in a report on Monday, October 2nd. Morgan Stanley decreased their price target on shares of Tesla from $400.00 to $380.00 and set an “overweight” rating on the stock in a research note on Thursday, October 19th. Wells Fargo & Company cut their price objective on shares of Tesla from $260.00 to $250.00 and set an “equal weight” rating for the company in a research note on Thursday, October 19th. Finally, Mizuho boosted their price target on shares of Tesla from $300.00 to $330.00 in a research note on Thursday, July 20th. Eight equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $235.20.
View Our Latest Research Report on Tesla
Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It 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, retail merchandise, and vehicle insurance services.
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