MainStreet Investment Advisors LLC Increases Position in Tesla, Inc. $TSLA

MainStreet Investment Advisors LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,030 shares of the electric vehicle producer’s stock after purchasing an additional 290 shares during the period. MainStreet Investment Advisors LLC’s holdings in Tesla were worth $4,139,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Wescott Financial Advisory Group LLC lifted its position in shares of Tesla by 11.3% during the 2nd quarter. Wescott Financial Advisory Group LLC now owns 1,924 shares of the electric vehicle producer’s stock valued at $611,000 after acquiring an additional 195 shares during the period. Purus Wealth Management LLC grew its holdings in shares of Tesla by 5.9% in the 2nd quarter. Purus Wealth Management LLC now owns 6,589 shares of the electric vehicle producer’s stock worth $2,093,000 after acquiring an additional 366 shares during the period. Portside Wealth Group LLC increased its stake in Tesla by 9.5% in the 2nd quarter. Portside Wealth Group LLC now owns 17,227 shares of the electric vehicle producer’s stock valued at $5,472,000 after purchasing an additional 1,501 shares in the last quarter. Inspire Advisors LLC raised its holdings in Tesla by 32.0% during the second quarter. Inspire Advisors LLC now owns 2,923 shares of the electric vehicle producer’s stock worth $928,000 after purchasing an additional 709 shares during the last quarter. Finally, United Advisor Group LLC boosted its position in Tesla by 10.2% during the second quarter. United Advisor Group LLC now owns 13,917 shares of the electric vehicle producer’s stock worth $4,421,000 after purchasing an additional 1,287 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 1.1%

Shares of TSLA stock opened at $408.92 on Tuesday. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The firm’s 50 day moving average price is $430.92 and its two-hundred day moving average price is $362.23. The stock has a market cap of $1.36 trillion, a price-to-earnings ratio of 272.61, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the prior year, the company earned $0.72 EPS. The firm’s revenue was up 11.6% on a year-over-year basis. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a research report on Wednesday, October 15th. Roth Capital set a $505.00 price objective on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Wall Street Zen raised Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. President Capital boosted their price target on Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Dbs Bank raised Tesla to a “hold” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $394.31.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last 90 days. 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.