Orion Portfolio Solutions LLC Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)
Orion Portfolio Solutions LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 84.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,412 shares of the electric vehicle producer’s stock after purchasing an additional 24,941 shares during the period. Orion Portfolio Solutions LLC’s holdings in Tesla were worth $14,243,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Alpha Paradigm Partners LLC bought a new stake in Tesla during the 3rd quarter valued at about $27,000. Mendota Financial Group LLC boosted its holdings in Tesla by 3,733.3% in the second quarter. Mendota Financial Group LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after acquiring an additional 112 shares in the last quarter. Annapolis Financial Services LLC raised its stake in shares of Tesla by 2,050.0% in the second quarter. Annapolis Financial Services LLC now owns 129 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 123 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla during the second quarter worth $39,000. Finally, Worth Asset Management LLC acquired a new stake in shares of Tesla during the 1st quarter worth approximately $111,000. Hedge funds and other institutional investors own 41.87% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on TSLA. Wells Fargo & Company lowered their price target on Tesla from $260.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 19th. UBS Group reduced their price objective on Tesla from $290.00 to $266.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 10th. Roth Mkm restated a “neutral” rating and set a $85.00 price target on shares of Tesla in a report on Thursday, October 19th. Canaccord Genuity Group reiterated a “buy” rating and issued a $293.00 price objective on shares of Tesla in a report on Friday, September 29th. Finally, Wedbush restated an “outperform” rating and issued a $310.00 price target on shares of Tesla in a research note on Tuesday, November 28th. Eight investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $232.53.
Check Out Our Latest Stock Analysis on Tesla
Tesla Stock Performance
Tesla stock opened at $239.29 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.69 and a quick ratio of 1.18. Tesla, Inc. has a 12 month low of $101.81 and a 12 month high of $299.29. The company has a fifty day moving average price of $233.19 and a two-hundred day moving average price of $245.83. The company has a market cap of $760.68 billion, a PE ratio of 76.94, a P/E/G ratio of 4.68 and a beta of 2.26.
Tesla (NASDAQ:TSLA – Get Free Report) last announced its quarterly earnings results on Wednesday, October 18th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.07). Tesla had a return on equity of 21.47% and a net margin of 11.21%. The company had revenue of $23.35 billion for the quarter, compared to analyst estimates of $24.19 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. Research analysts expect that Tesla, Inc. will post 2.61 earnings per share for the current year.
Insider Transactions at Tesla
In related news, SVP Xiaotong Zhu sold 1,049 shares of Tesla stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $244.34, for a total value of $256,312.66. Following the sale, the senior vice president now directly owns 61,124 shares in the company, valued at approximately $14,935,038.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $244.32, for a total value of $2,565,360.00. Following the transaction, the senior vice president now directly owns 68,102 shares of the company’s stock, valued at $16,638,680.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 1,049 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $244.34, for a total transaction of $256,312.66. Following the completion of the transaction, the senior vice president now directly owns 61,124 shares of the company’s stock, valued at approximately $14,935,038.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,222 shares of company stock worth $7,091,898. Insiders own 20.90% of the company’s stock.
Tesla Profile (Free Report)
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.
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