Tesla, Inc. $TSLA Shares Sold by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC cut its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 580,755 shares of the electric vehicle producer’s stock after selling 5,214 shares during the period. Tesla accounts for 0.8% of Nisa Investment Advisors LLC’s holdings, making the stock its 13th biggest position. Nisa Investment Advisors LLC’s holdings in Tesla were worth $184,483,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LGT Financial Advisors LLC acquired a new stake in shares of Tesla during the 2nd quarter valued at about $29,000. Arcadia Investment Management Corp MI purchased a new position in Tesla during the first quarter worth approximately $27,000. Chelsea Counsel Co. grew its holdings in Tesla by 59.7% in 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. Evergreen Private Wealth LLC increased its position in shares of Tesla by 270.0% in the second 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. Finally, Centennial Bank AR lifted its position in shares of Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on TSLA. Piper Sandler boosted their price target on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. Evercore ISI cut their target price on shares of Tesla from $300.00 to $235.00 in a research note on Friday. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday. Melius Research set a $520.00 price objective on Tesla and gave the stock a “buy” rating in a report on Monday, October 13th. Finally, TD Cowen increased their target price on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $381.70.

Tesla Price Performance

TSLA stock opened at $433.72 on Friday. The company has a market capitalization of $1.44 trillion, a PE ratio of 289.15, a P/E/G ratio of 15.59 and a beta of 2.08. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The business’s fifty day moving average price is $398.06 and its 200 day moving average price is $340.74.

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

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were 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 represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last 90 days. 19.90% of the stock is owned by insiders.

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.