Beacon Pointe Advisors LLC Acquires 8,529 Shares of Tesla, Inc. $TSLA

Beacon Pointe Advisors LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,430 shares of the electric vehicle producer’s stock after purchasing an additional 8,529 shares during the period. Beacon Pointe Advisors LLC’s holdings in Tesla were worth $22,373,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of TSLA. Holos Integrated Wealth LLC boosted its stake in Tesla by 10.8% in the 2nd quarter. Holos Integrated Wealth LLC now owns 309 shares of the electric vehicle producer’s stock worth $102,000 after purchasing an additional 30 shares during the period. First Merchants Corp lifted its holdings in shares of Tesla by 1.3% in the second 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 in the last quarter. Kaye Capital Management boosted its position in shares of Tesla by 3.1% during the second quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer’s stock worth $333,000 after buying an additional 31 shares during the period. Spectrum Wealth Advisory Group LLC grew its holdings in shares of Tesla by 3.4% during the second quarter. Spectrum Wealth Advisory Group LLC now owns 941 shares of the electric vehicle producer’s stock worth $299,000 after buying an additional 31 shares in the last quarter. Finally, Wambolt & Associates LLC raised its position in Tesla by 1.0% in the 2nd quarter. Wambolt & Associates LLC now owns 3,119 shares of the electric vehicle producer’s stock valued at $938,000 after buying an additional 31 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. HSBC reaffirmed a “reduce” rating on shares of Tesla in a research note on Monday, November 17th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. New Street Research lifted their target price on Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Finally, China Renaissance upped their target price on Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $394.03.

Insiders Place Their Bets

In related news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated 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 transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 82,606 shares of company stock valued at $33,554,102. 19.90% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of TSLA stock opened at $430.14 on Tuesday. The business has a fifty day simple moving average of $433.87 and a 200 day simple moving average of $369.96. The company has a market cap of $1.43 trillion, a P/E ratio of 286.76, a P/E/G ratio of 16.84 and a beta of 2.06. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla 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.