Spirit of America Management Corp NY Boosts Stock Position in Tesla, Inc. $TSLA

Spirit of America Management Corp NY grew its stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 5.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,825 shares of the electric vehicle producer’s stock after buying an additional 200 shares during the period. Spirit of America Management Corp NY’s holdings in Tesla were worth $1,215,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TSLA. First Merchants Corp raised its stake in Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after purchasing an additional 31 shares during the period. KWB Wealth raised its stake in Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after purchasing an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. raised its stake in Tesla by 3.6% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after purchasing an additional 34 shares during the period. Guyasuta Investment Advisors Inc. raised its stake in Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after purchasing an additional 34 shares during the period. Finally, Acorn Creek Capital LLC raised its stake in Tesla by 1.6% during the 2nd quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer’s stock valued at $697,000 after purchasing an additional 34 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their target price on Tesla from $395.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tesla in a research note on Wednesday, October 8th. Evercore ISI lifted their price objective on Tesla from $235.00 to $300.00 and gave the stock an “in-line” rating in a research note on Monday, October 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Finally, UBS Group set a $247.00 price objective on Tesla in a research note on Monday, October 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $363.54.

Check Out Our Latest Analysis on TSLA

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla 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 completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were 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 of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by insiders.

Tesla Stock Performance

NASDAQ TSLA opened at $439.31 on Friday. The company has a market cap of $1.46 trillion, a P/E ratio of 253.94, a P/E/G ratio of 15.79 and a beta of 2.08. 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 business’s 50 day moving average price is $387.54 and its 200-day moving average price is $333.60. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLAGet Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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