FRG Family Wealth Advisors LLC Raises Stake in Tesla, Inc. $TSLA

FRG Family Wealth Advisors LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 106.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,079 shares of the electric vehicle producer’s stock after buying an additional 5,198 shares during the quarter. FRG Family Wealth Advisors LLC’s holdings in Tesla were worth $3,202,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after purchasing an additional 849,091 shares during the period. Amundi grew its holdings in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Finally, Invesco Ltd. grew its holdings in Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after purchasing an additional 2,211,300 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction on 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. The trade was a 14.69% 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, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The stock was 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 in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Trading Up 0.2%

Shares of TSLA stock opened at $461.51 on Thursday. The stock has a market cap of $1.53 trillion, a price-to-earnings ratio of 307.67, a price-to-earnings-growth ratio of 16.81 and a beta of 2.08. 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, 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 $405.79 and its two-hundred day moving average price is $345.40.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS 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 business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Melius Research set a $520.00 target price on shares of Tesla and gave the company a “buy” rating in a report on Monday, October 13th. Truist Financial boosted their target price on shares of Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. Roth Capital set a $505.00 target price on shares of Tesla and gave the company a “buy” rating in a report on Thursday, October 23rd. CICC Research boosted their target price on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $388.51.

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.