21,213 Shares in Tesla, Inc. (NASDAQ:TSLA) Acquired by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 21,213 shares of the electric vehicle producer’s stock, valued at approximately $4,198,000.

A number of other institutional investors have also recently modified their holdings of the stock. Bank & Trust Co acquired a new stake in shares of Tesla during the 2nd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Tesla in the 2nd quarter valued at $26,000. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla in the 4th quarter valued at $37,000. Guardian Wealth Management Inc. bought a new stake in shares of Tesla during the 4th quarter worth $47,000. Finally, Kessler Investment Group LLC lifted its position in shares of Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 51 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by insiders.

Tesla Trading Up 0.2 %

Shares of Tesla stock opened at $230.29 on Monday. The company has a market capitalization of $734.44 billion, a P/E ratio of 58.75, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. The stock has a fifty day simple moving average of $223.37 and a 200 day simple moving average of $194.57. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $278.98. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on TSLA. HSBC boosted their target price on Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Piper Sandler reissued an “overweight” rating and issued a $300.00 price objective on shares of Tesla in a research note on Monday, August 19th. Barclays decreased their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 25th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Nine investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $209.60.

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.