Prudent Man Advisors LLC Boosts Stake in Tesla, Inc. $TSLA

Prudent Man Advisors LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 32.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,232 shares of the electric vehicle producer’s stock after buying an additional 552 shares during the quarter. Prudent Man Advisors LLC’s holdings in Tesla were worth $709,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. Topsail Wealth Management LLC purchased a new position in shares of Tesla during the 2nd quarter worth $206,000. Ingalls & Snyder LLC lifted its stake in shares of Tesla by 153.0% during the 2nd quarter. Ingalls & Snyder LLC now owns 4,709 shares of the electric vehicle producer’s stock worth $1,496,000 after purchasing an additional 2,848 shares during the period. Darden Wealth Group Inc lifted its stake in shares of Tesla by 11.9% during the 2nd quarter. Darden Wealth Group Inc now owns 2,143 shares of the electric vehicle producer’s stock worth $681,000 after purchasing an additional 228 shares during the period. Ndwm LLC lifted its stake in shares of Tesla by 1.2% during the 2nd quarter. Ndwm LLC now owns 3,503 shares of the electric vehicle producer’s stock worth $1,113,000 after purchasing an additional 41 shares during the period. Finally, Cabot Wealth Management Inc. lifted its stake in shares of Tesla by 0.5% during the 2nd quarter. Cabot Wealth Management Inc. now owns 8,341 shares of the electric vehicle producer’s stock worth $2,650,000 after purchasing an additional 39 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction 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 sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction 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 completion of the sale, the director owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of a number of recent analyst reports. Canaccord Genuity Group reduced their price target on Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research note on Thursday. Truist Financial increased their price target on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research note on Thursday. New Street Research increased their price target on Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research note on Thursday. HSBC increased their price target on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Finally, Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $320.00 to $548.00 in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $381.70.

Tesla Trading Down 3.4%

TSLA stock opened at $433.72 on Friday. The company has a market cap of $1.44 trillion, a price-to-earnings ratio of 289.15, a PEG ratio of 15.59 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $398.06 and a 200-day simple moving average of $340.74. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the prior year, the firm earned $0.72 EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla 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.