Alaska Wealth Advisors Boosts Holdings in Tesla, Inc. $TSLA

Alaska Wealth Advisors increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 985 shares of the electric vehicle producer’s stock after buying an additional 32 shares during the period. Alaska Wealth Advisors’ holdings in Tesla were worth $313,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. LMG Wealth Partners LLC boosted its position in Tesla by 6.7% in the 2nd quarter. LMG Wealth Partners LLC now owns 12,448 shares of the electric vehicle producer’s stock valued at $3,954,000 after buying an additional 784 shares during the period. Northeast Investment Management increased its position in shares of Tesla by 1.2% during the second quarter. Northeast Investment Management now owns 22,805 shares of the electric vehicle producer’s stock worth $7,244,000 after acquiring an additional 265 shares during the period. Calamos Wealth Management LLC boosted its holdings in Tesla by 8.8% in the second quarter. Calamos Wealth Management LLC now owns 28,913 shares of the electric vehicle producer’s stock valued at $9,185,000 after purchasing an additional 2,348 shares during the period. Salomon & Ludwin LLC grew its stake in Tesla by 57.1% during the 2nd quarter. Salomon & Ludwin LLC now owns 1,808 shares of the electric vehicle producer’s stock worth $571,000 after purchasing an additional 657 shares in the last quarter. Finally, Forvis Mazars Wealth Advisors LLC increased its holdings in Tesla by 11.7% during the 2nd quarter. Forvis Mazars Wealth Advisors LLC now owns 8,387 shares of the electric vehicle producer’s stock worth $2,664,000 after purchasing an additional 878 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TSLA shares. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a report on Friday, September 26th. Industrial Alliance Securities set a $300.00 price target on shares of Tesla in a report on Monday, October 13th. Piper Sandler increased their price objective 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. Finally, The Goldman Sachs Group raised their price objective on shares of Tesla from $395.00 to $425.00 and gave the company a “neutral” rating in a report on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten 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 $363.54.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm’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 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 position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Up 2.5%

Shares of NASDAQ:TSLA opened at $439.31 on Monday. The firm has a 50 day simple moving average of $387.54 and a 200-day simple moving average of $334.06. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.46 trillion, a PE ratio of 253.94, a P/E/G ratio of 15.79 and a beta of 2.08.

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

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.