Montag A & Associates Inc. Has $1.08 Million Holdings in Tesla, Inc. $TSLA

Montag A & Associates Inc. lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 49.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,389 shares of the electric vehicle producer’s stock after purchasing an additional 1,128 shares during the period. Montag A & Associates Inc.’s holdings in Tesla were worth $1,077,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TSLA. Chelsea Counsel Co. increased its stake in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the period. LGT Financial Advisors LLC bought a new position in Tesla in the second quarter valued at about $29,000. Evergreen Private Wealth LLC boosted its holdings in Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares during the last quarter. Pacific Center for Financial Services increased its position in Tesla by 44.7% in the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock worth $39,000 after purchasing an additional 46 shares during the period. Finally, Maseco LLP bought a new stake in Tesla during the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $500.00 target price on shares of Tesla in a research note on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tesla from $440.00 to $470.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and increased their price target for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Canaccord Genuity Group reduced their price target on Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research report on Thursday, October 23rd. Finally, UBS Group reaffirmed a “sell” rating on shares of Tesla in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and eleven have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $391.08.

Tesla Price Performance

Shares of TSLA opened at $439.62 on Wednesday. The stock has a 50 day simple moving average of $425.40 and a 200 day simple moving average of $358.68. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The firm has a market capitalization of $1.46 trillion, a PE ratio of 293.08, a P/E/G ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by corporate insiders.

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.