Landaas & Co. WI ADV Boosts Stake in Tesla, Inc. $TSLA

Landaas & Co. WI ADV grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 6,701 shares of the electric vehicle producer’s stock after buying an additional 415 shares during the period. Tesla accounts for 0.5% of Landaas & Co. WI ADV’s portfolio, making the stock its 15th largest position. Landaas & Co. WI ADV’s holdings in Tesla were worth $2,129,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TSLA. Chelsea Counsel Co. boosted its stake in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the period. LGT Financial Advisors LLC purchased a new position in Tesla in the 2nd quarter worth about $29,000. Evergreen Private Wealth LLC lifted its holdings in Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 81 shares in the last quarter. Glynn Capital Management LLC bought a new position in Tesla in the 2nd quarter worth about $35,000. Finally, Pacific Center for Financial Services increased its position in shares of Tesla by 44.7% during the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock worth $39,000 after acquiring an additional 46 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on TSLA shares. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $500.00 target price on shares of Tesla in a report on Thursday, October 23rd. Wall Street Zen upgraded Tesla from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. The Goldman Sachs Group cut their target price on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Finally, HSBC increased their price objective on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $394.31.

Tesla Price Performance

NASDAQ TSLA opened at $404.35 on Monday. The firm’s fifty day simple moving average is $429.67 and its two-hundred day simple moving average is $361.33. The firm has a market capitalization of $1.34 trillion, a P/E ratio of 269.57, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, October 23rd. 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 company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same period in the prior year, the company posted $0.72 EPS. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’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 transaction of $7,275,000.00. Following 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 SEC filing for this sale provides additional information. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 over the last 90 days. 19.90% of the stock is currently owned by corporate insiders.

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.