Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,453 shares of the electric vehicle producer’s stock after purchasing an additional 3,536 shares during the period. Farther Finance Advisors LLC’s holdings in Tesla were worth $5,551,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TSLA. Norges Bank acquired a new stake in shares of Tesla during the fourth quarter worth $7,844,757,000. Vanguard Group Inc. lifted its stake in Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after buying an additional 3,866,361 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Tesla by 2,101.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock worth $365,064,000 after buying an additional 1,402,443 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the period. Finally, Nikko Asset Management Americas Inc. raised its holdings in shares of Tesla by 60.2% during the first quarter. Nikko Asset Management Americas Inc. now owns 2,854,198 shares of the electric vehicle producer’s stock valued at $501,654,000 after acquiring an additional 1,072,366 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TSLA. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. TD Cowen lifted their price target on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. Robert W. Baird reissued an “outperform” rating and set a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Oppenheimer restated a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada dropped their target price on Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $204.21.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $7.83 during trading hours on Friday, hitting $214.11. 63,370,608 shares of the company’s stock were exchanged, compared to its average volume of 97,535,023. The stock has a market capitalization of $684.00 billion, a price-to-earnings ratio of 54.62, a PEG ratio of 5.52 and a beta of 2.31. The company’s 50-day moving average price is $222.00 and its 200-day moving average price is $192.82. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter last year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts expect that Tesla, Inc. will post 1.79 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

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.