Cerity Partners LLC Raises Position in Tesla, Inc. $TSLA

Cerity Partners LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 457,134 shares of the electric vehicle producer’s stock after acquiring an additional 54,122 shares during the period. Cerity Partners LLC’s holdings in Tesla were worth $143,268,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Chelsea Counsel Co. grew its stake in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the period. LGT Financial Advisors LLC bought a new stake in shares of Tesla during the 2nd quarter valued at $29,000. ESL Trust Services LLC grew its position in shares of Tesla by 1,900.0% in the 2nd quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 95 shares during the period. Evergreen Private Wealth LLC increased its stake in shares of Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after acquiring an additional 81 shares in the last quarter. Finally, Glynn Capital Management LLC purchased a new position in Tesla during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TSLA shares. BNP Paribas Exane assumed coverage on shares of Tesla in a research note on Thursday, October 16th. They set an “underperform” rating and a $307.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their price objective on Tesla from $440.00 to $470.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Wedbush reissued an “outperform” rating and issued a $600.00 target price on shares of Tesla in a research note on Wednesday, November 5th. Finally, Bank of America lifted their price target on Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have given a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $398.92.

Tesla Trading Up 0.1%

Shares of NASDAQ:TSLA opened at $455.00 on Friday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The stock’s fifty day moving average price is $434.93 and its 200-day moving average price is $372.61. The company has a market cap of $1.51 trillion, a P/E ratio of 303.33, a PEG ratio of 15.37 and a beta of 1.87. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during 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 was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction 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. The trade was a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 82,606 shares of company stock valued at $33,554,102 over the last three months. Insiders own 19.90% of the company’s stock.

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.