Tesla, Inc. $TSLA is Profund Advisors LLC’s 8th Largest Position

Profund Advisors LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,744 shares of the electric vehicle producer’s stock after acquiring an additional 15,360 shares during the quarter. Tesla makes up 1.8% of Profund Advisors LLC’s holdings, making the stock its 8th biggest position. Profund Advisors LLC’s holdings in Tesla were worth $48,838,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Merchants Corp increased its position in Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after buying an additional 31 shares during the last quarter. Alaska Wealth Advisors grew its stake in shares of 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 acquiring an additional 32 shares during the period. KWB Wealth increased its holdings in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after acquiring an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. raised its stake in 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 acquiring an additional 34 shares during the period. Finally, Guyasuta Investment Advisors Inc. boosted its position in Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after purchasing an additional 34 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Trading Down 3.7%

TSLA stock opened at $429.52 on Friday. The company’s 50 day moving average price is $420.97 and its two-hundred day moving average price is $355.54. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company has a market capitalization of $1.43 trillion, a PE ratio of 286.35, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the prior year, the business posted $0.72 EPS. Tesla’s quarterly revenue was up 11.6% compared to the same quarter last year. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a report on Thursday, October 23rd. HSBC increased their price objective on Tesla from $120.00 to $127.00 in a report on Monday, September 29th. TD Cowen lifted their target price on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Dbs Bank raised shares of Tesla to a “hold” rating in a report on Wednesday. Finally, Mizuho boosted their price objective on shares of Tesla from $450.00 to $485.00 and gave the company an “outperform” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eleven have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $391.08.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a filing 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 shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 202,606 shares of company stock worth $75,588,902 in the last three months. 19.90% of the stock is owned by 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.