McElhenny Sheffield Capital Management LLC Acquires 102 Shares of Tesla, Inc. $TSLA

McElhenny Sheffield Capital Management LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,323 shares of the electric vehicle producer’s stock after buying an additional 102 shares during the period. McElhenny Sheffield Capital Management LLC’s holdings in Tesla were worth $738,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in TSLA. Goldman Sachs Group Inc. lifted its stake in shares of 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 buying an additional 20,291,139 shares in the last quarter. Nuveen LLC bought a new position in shares of Tesla in the first quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its position in shares of Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares in the last quarter. Amundi lifted its position in shares of Tesla by 29.4% during 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 in the last quarter. Finally, Vanguard Group Inc. lifted its position 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 valued at $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Stifel Nicolaus set a $483.00 price target on shares of Tesla and gave the company a “buy” rating in a research report on Wednesday. Piper Sandler raised their price target on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. JPMorgan Chase & Co. raised their price target on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Morgan Stanley reissued an “overweight” rating and set a $410.00 price target on shares of Tesla in a research report on Thursday, October 2nd. Finally, Canaccord Genuity Group raised their price target on shares of Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $354.67.

Tesla Stock Performance

NASDAQ TSLA opened at $413.49 on Friday. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a 50-day simple moving average of $375.97 and a 200 day simple moving average of $327.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.37 trillion, a PE ratio of 239.01, a price-to-earnings-growth ratio of 15.81 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last quarter. Corporate 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.