Independent Financial Group LLC Invests $24.35 Million in Tesla, Inc. $TSLA

Independent Financial Group LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 65,501 shares of the electric vehicle producer’s stock, valued at approximately $24,350,000. Tesla makes up 0.7% of Independent Financial Group LLC’s portfolio, making the stock its 12th largest holding.

A number of other institutional investors also recently modified their holdings of the company. Enterprise Financial Services Corp lifted its stake in shares of Tesla by 3.2% in the first quarter. Enterprise Financial Services Corp now owns 2,909 shares of the electric vehicle producer’s stock worth $1,081,000 after buying an additional 91 shares during the last quarter. Prosperity Consulting Group LLC raised its holdings in Tesla by 0.5% in the 1st quarter. Prosperity Consulting Group LLC now owns 12,316 shares of the electric vehicle producer’s stock worth $4,578,000 after acquiring an additional 58 shares during the period. Frazier Financial Advisors LLC boosted its holdings in Tesla by 40.4% during the first quarter. Frazier Financial Advisors LLC now owns 671 shares of the electric vehicle producer’s stock valued at $249,000 after acquiring an additional 193 shares during the period. Helium Advisors LLC increased its stake in shares of Tesla by 32.0% in the first quarter. Helium Advisors LLC now owns 1,493 shares of the electric vehicle producer’s stock worth $555,000 after purchasing an additional 362 shares during the period. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new position in shares of Tesla during the 1st quarter worth about $110,857,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $402.20, for a total value of $1,048,133.20. Following the sale, the chief financial officer owned 22,039 shares of the company’s stock, valued at $8,864,085.80. The trade was a 10.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the company’s stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the completion of the sale, the director owned 48,399 shares in the company, valued at $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,015 shares of company stock worth $12,383,640 over the last ninety days. Company insiders own 19.90% of the company’s stock.

Tesla Trading Down 0.9%

Shares of TSLA stock opened at $391.06 on Friday. The firm has a fifty day moving average of $410.37 and a 200-day moving average of $406.18. The stock has a market cap of $1.47 trillion, a price-to-earnings ratio of 358.77, a P/E/G ratio of 14.39 and a beta of 1.80. Tesla, Inc. has a 52-week low of $297.82 and a 52-week high of $498.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same period in the previous year, the business earned $0.27 EPS. The firm’s revenue was up 15.8% on a year-over-year basis. On average, equities research analysts forecast that Tesla, Inc. will post 1.3 earnings per share for the current fiscal year.

More Tesla News

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s stronger-than-expected vehicle deliveries last quarter support the case that demand remains resilient, and the company may also benefit from tighter global emissions rules that could accelerate EV adoption. Tesla’s Delivery Surprise Was Big—Earnings Need to Be Bigger
• Positive Sentiment: Investor interest is high ahead of the July 22 earnings call, with questions focused on robotaxi progress, Optimus, Cybercab, and Elon Musk’s comments, which could provide a catalyst if Tesla offers credible updates. Tesla Q2 Earnings: Elon Musk’s Pay Package, Cybercab and Optimus Lead Top Investor Questions
• Positive Sentiment: Some analysts remain constructive, noting Tesla is positioned to benefit from EV adoption trends and long-term software/autonomy opportunities. Tesla Rides Tightening Global Emission Standards for EV Thrust

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TSLA. TD Cowen reaffirmed a “buy” rating on shares of Tesla in a report on Monday, June 29th. Wedbush reissued an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a research report on Tuesday, April 21st. BNP Paribas Exane lowered shares of Tesla from a “hold” rating to an “underperform” rating in a research report on Friday, June 5th. Robert W. Baird reduced their price target on shares of Tesla from $538.00 to $522.00 and set an “outperform” rating for the company in a report on Friday, April 24th. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Thursday, June 11th. Twenty-one investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $408.07.

Tesla Profile

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean?energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery?electric vehicles and related services.