Traphagen Investment Advisors LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 55.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,471 shares of the electric vehicle producer’s stock after purchasing an additional 1,956 shares during the period. Traphagen Investment Advisors LLC’s holdings in Tesla were worth $1,738,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of TSLA. Brighton Jones LLC raised its position in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. Bison Wealth LLC grew its holdings in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares during the period. GAMMA Investing LLC grew its holdings in Tesla by 6.0% during the 1st quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock worth $9,812,000 after acquiring an additional 2,153 shares during the period. Finally, Ulland Investment Advisors LLC grew its holdings in Tesla by 30.8% during the 1st quarter. Ulland Investment Advisors LLC now owns 170 shares of the electric vehicle producer’s stock worth $44,000 after acquiring an additional 40 shares during the period. 66.20% of the stock is owned by institutional investors.
Tesla Trading Down 0.7%
Shares of Tesla stock opened at $435.54 on Friday. 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 stock has a fifty day simple moving average of $373.75 and a 200 day simple moving average of $326.64. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The company has a market capitalization of $1.45 trillion, a P/E ratio of 251.76, a price-to-earnings-growth ratio of 16.04 and a beta of 2.08.
Analysts Set New Price Targets
A number of brokerages have weighed in on TSLA. Wedbush increased their price target on Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Friday, September 26th. CICC Research increased their price target on Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. Morgan Stanley reiterated an “overweight” rating and set a $410.00 price target on shares of Tesla in a report on Thursday, October 2nd. Piper Sandler increased their price target on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. Finally, Mizuho increased their price target on Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $349.37.
View Our Latest Stock Report on Tesla
Insiders Place Their Bets
In other news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on 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 directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.
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.
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