Advisors Capital Management LLC Has $7.15 Million Stock Holdings in Tesla, Inc. $TSLA

Advisors Capital Management LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 7.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,514 shares of the electric vehicle producer’s stock after acquiring an additional 1,524 shares during the period. Advisors Capital Management LLC’s holdings in Tesla were worth $7,152,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TSLA. Chelsea Counsel Co. boosted its stake in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares in the last quarter. LGT Financial Advisors LLC acquired a new stake in Tesla in the 2nd quarter worth approximately $29,000. Evergreen Private Wealth LLC boosted its position in Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares during the period. Glynn Capital Management LLC acquired a new position in Tesla during the second quarter valued at approximately $35,000. Finally, Pacific Center for Financial Services raised its position in shares of Tesla by 44.7% in the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock valued at $39,000 after purchasing an additional 46 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Dbs Bank raised shares of Tesla to a “hold” rating in a report on Wednesday, November 5th. UBS Group restated a “sell” rating on shares of Tesla in a report on Friday, November 7th. Stifel Nicolaus set a $483.00 price objective on Tesla and gave the stock a “buy” rating in a research note on Wednesday, October 8th. New Street Research increased their target price on Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and raised their target price for the company from $320.00 to $548.00 in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $393.61.

Tesla Trading Up 0.6%

Shares of TSLA opened at $404.35 on Friday. The stock’s 50-day moving average price is $429.67 and its 200 day moving average price is $360.30. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 269.57, a P/E/G ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 EPS. As a group, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the 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 completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, 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 202,606 shares of company stock worth $75,588,902 over the last 90 days. 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.