Slagle Financial LLC Invests $333,000 in Tesla, Inc. $TSLA

Slagle Financial LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,047 shares of the electric vehicle producer’s stock, valued at approximately $333,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. First Merchants Corp grew its holdings in Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after acquiring an additional 31 shares during the last quarter. Alaska Wealth Advisors raised its position in Tesla by 3.4% during the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after purchasing an additional 32 shares during the last quarter. KWB Wealth lifted its holdings in Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after buying an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. grew its position in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after buying an additional 34 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. increased its stake in shares of Tesla by 0.7% in the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after buying an additional 34 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $404.35 on Monday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $429.67 and a two-hundred day simple moving average of $361.33. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The firm has a market capitalization of $1.34 trillion, a PE ratio of 269.57, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations 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 period last year, the company earned $0.72 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on TSLA. Weiss Ratings reiterated a “hold (c-)” rating on shares of Tesla in a report on Thursday, October 30th. Roth Capital set a $505.00 price objective on shares of Tesla and gave the company a “buy” rating in a research note on Thursday, October 23rd. New Street Research increased their price objective on shares of Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Piper Sandler boosted their target price on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the company. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $394.31.

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.