Tesla, Inc. $TSLA Shares Bought by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,083 shares of the electric vehicle producer’s stock after buying an additional 18,027 shares during the period. Avantax Advisory Services Inc.’s holdings in Tesla were worth $58,158,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Intech Investment Management LLC grew its holdings in Tesla by 9.7% during the second quarter. Intech Investment Management LLC now owns 536,510 shares of the electric vehicle producer’s stock worth $170,428,000 after acquiring an additional 47,349 shares during the period. MJP Associates Inc. ADV boosted its position in shares of Tesla by 28.2% during the 2nd quarter. MJP Associates Inc. ADV now owns 6,374 shares of the electric vehicle producer’s stock worth $2,025,000 after purchasing an additional 1,402 shares in the last quarter. Union Savings Bank grew its stake in shares of Tesla by 15.9% during the 2nd quarter. Union Savings Bank now owns 735 shares of the electric vehicle producer’s stock worth $227,000 after purchasing an additional 101 shares during the period. Fusion Capital LLC increased its holdings in shares of Tesla by 23.7% in the 2nd quarter. Fusion Capital LLC now owns 1,463 shares of the electric vehicle producer’s stock valued at $465,000 after purchasing an additional 280 shares in the last quarter. Finally, New England Capital Financial Advisors LLC lifted its stake in shares of Tesla by 7.4% in the second quarter. New England Capital Financial Advisors LLC now owns 1,149 shares of the electric vehicle producer’s stock valued at $365,000 after purchasing an additional 79 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm’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 transaction of $918,302.28. Following the sale, the chief financial officer 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last ninety days. Insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $404.35 on Friday. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The company has a market capitalization of $1.34 trillion, a price-to-earnings ratio of 269.57, a PEG ratio of 16.84 and a beta of 2.06. The stock has a fifty day moving average of $429.67 and a two-hundred day moving average of $360.78. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business 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%.The business’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. Wedbush restated an “outperform” rating and set a $600.00 target price on shares of Tesla in a research report on Wednesday, November 5th. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. President Capital raised their price objective on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Finally, China Renaissance upped their target price on Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company. According to MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $393.61.

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.