Pennsylvania Capital Management Inc. ADV Purchases 1,525 Shares of Tesla, Inc. $TSLA

Pennsylvania Capital Management Inc. ADV increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 22.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,185 shares of the electric vehicle producer’s stock after acquiring an additional 1,525 shares during the period. Tesla makes up about 0.8% of Pennsylvania Capital Management Inc. ADV’s holdings, making the stock its 24th biggest position. Pennsylvania Capital Management Inc. ADV’s holdings in Tesla were worth $2,600,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KWB Wealth raised its position in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after purchasing an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. boosted its position in Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after buying an additional 34 shares during the period. Guyasuta Investment Advisors Inc. boosted its position in Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after buying an additional 34 shares during the period. Kelly Financial Services LLC boosted its position in Tesla by 2.7% during the second quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer’s stock valued at $423,000 after buying an additional 35 shares during the period. Finally, Acorn Wealth Advisors LLC boosted its position in Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after buying an additional 36 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.3%

NASDAQ:TSLA opened at $459.46 on Thursday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a market cap of $1.53 trillion, a price-to-earnings ratio of 265.58, a P/E/G ratio of 15.46 and a beta of 2.08. The company has a 50-day moving average price of $359.13 and a 200-day moving average price of $318.62. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period last year, the business earned $0.52 earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. Equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. CICC Research upped their price target on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Mizuho raised their price target on shares of Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday, September 23rd. Finally, Benchmark reissued a “buy” rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $337.15.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at $1,735,080.36. This trade represents a 40.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated 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 transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock valued at $77,360,462 in the last three months. Company insiders own 19.90% of the company’s stock.

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.