Capital Advisors Wealth Management LLC Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

Capital Advisors Wealth Management LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 35.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,132 shares of the electric vehicle producer’s stock after acquiring an additional 561 shares during the quarter. Capital Advisors Wealth Management LLC’s holdings in Tesla were worth $558,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Maryland State Retirement & Pension System increased its position in Tesla by 3.5% in the second quarter. Maryland State Retirement & Pension System now owns 211,295 shares of the electric vehicle producer’s stock worth $55,311,000 after buying an additional 7,176 shares in the last quarter. Empower Advisory Group LLC bought a new position in Tesla during the first quarter valued at approximately $98,698,000. DoubleLine ETF Adviser LP bought a new position in Tesla during the first quarter valued at approximately $11,384,000. Private Trust Co. NA boosted its stake in Tesla by 87.8% during the first quarter. Private Trust Co. NA now owns 5,138 shares of the electric vehicle producer’s stock valued at $1,066,000 after buying an additional 2,402 shares during the last quarter. Finally, Berkeley Capital Partners LLC boosted its stake in Tesla by 1.6% during the first quarter. Berkeley Capital Partners LLC now owns 5,212 shares of the electric vehicle producer’s stock valued at $1,081,000 after buying an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $265.28 on Tuesday. Tesla, Inc. has a twelve month low of $101.81 and a twelve month high of $313.80. The stock has a market capitalization of $842.00 billion, a price-to-earnings ratio of 75.15, a PEG ratio of 4.28 and a beta of 2.09. The stock has a 50-day moving average of $255.83 and a 200 day moving average of $220.81. The company has a current ratio of 1.59, a quick ratio of 1.07 and a debt-to-equity ratio of 0.02.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. The business had revenue of $24.93 billion during the quarter, compared to analyst estimates of $24.22 billion. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The company’s revenue for the quarter was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 2.94 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total value of $1,045,125.00. Following the transaction, the chief financial officer now owns 197,540 shares of the company’s stock, valued at $55,054,398. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Tesla news, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total value of $1,045,125.00. Following the transaction, the chief financial officer now owns 197,540 shares of the company’s stock, valued at $55,054,398. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Friday, July 7th. The stock was sold at an average price of $278.36, for a total transaction of $1,113,440.00. Following the sale, the chief accounting officer now directly owns 104,504 shares in the company, valued at approximately $29,089,733.44. The disclosure for this sale can be found here. Insiders have sold 55,815 shares of company stock valued at $14,384,135 over the last 90 days. 20.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TSLA. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $275.00 price objective on shares of Tesla in a research note on Monday. Mizuho boosted their price objective on Tesla from $300.00 to $330.00 in a report on Thursday, July 20th. StockNews.com started coverage on Tesla in a report on Thursday, August 17th. They set a “hold” rating for the company. Truist Financial boosted their price objective on Tesla from $240.00 to $254.00 and gave the company a “hold” rating in a report on Thursday, July 20th. Finally, Wells Fargo & Company boosted their price objective on Tesla from $170.00 to $265.00 and gave the company an “equal weight” rating in a report on Monday, July 17th. Six equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $239.43.

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. It 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, retail merchandise, and vehicle insurance services.