Quad Cities Investment Group LLC Purchases 394 Shares of Tesla, Inc. $TSLA

Quad Cities Investment Group LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,607 shares of the electric vehicle producer’s stock after acquiring an additional 394 shares during the period. Quad Cities Investment Group LLC’s holdings in Tesla were worth $1,463,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Acorn Wealth Advisors LLC grew its stake in shares of Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after purchasing an additional 36 shares during the period. Solutions 4 Wealth Ltd grew its stake in shares of Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock valued at $470,000 after purchasing an additional 36 shares during the period. ACT Wealth Management LLC grew its stake in shares of Tesla by 0.7% in the 2nd quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer’s stock valued at $1,717,000 after purchasing an additional 36 shares during the period. Capital Management Associates Inc grew its stake in shares of Tesla by 3.4% in the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock valued at $302,000 after purchasing an additional 38 shares during the period. Finally, Graney & King LLC grew its stake in shares of Tesla by 18.4% in the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer’s stock valued at $63,000 after purchasing an additional 38 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TSLA shares. Bank of America upped their price objective on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday. Piper Sandler restated an “overweight” rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. China Renaissance restated a “hold” rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Finally, Guggenheim restated a “sell” rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $317.70.

Tesla Stock Performance

TSLA stock opened at $426.07 on Friday. The business’s 50-day moving average price is $340.68 and its two-hundred day moving average price is $308.35. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.42 trillion, a PE ratio of 246.28, a P/E/G ratio of 14.86 and a beta of 2.06. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 208,606 shares of company stock worth $77,360,462. Corporate insiders own 20.70% of the company’s stock.

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.