Tesla, Inc. $TSLA Stock Holdings Lifted by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.0% during the second quarter, HoldingsChannel.com reports. The firm owned 10,401 shares of the electric vehicle producer’s stock after acquiring an additional 1,197 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Tesla were worth $3,304,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in Tesla during the first quarter valued at approximately $27,000. Chelsea Counsel Co. lifted its stake in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. Centennial Bank AR lifted its stake in Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. LGT Financial Advisors LLC acquired a new stake in shares of Tesla in the second quarter worth $29,000. Finally, Compass Wealth Management LLC lifted its stake in shares of Tesla by 360.0% in the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after buying an additional 90 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Tesla Trading Up 0.2%

Shares of TSLA stock opened at $461.51 on Thursday. The stock has a market cap of $1.53 trillion, a price-to-earnings ratio of 307.67, a P/E/G ratio of 16.81 and a beta of 2.08. 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 fifty day moving average of $405.79 and a 200-day moving average of $345.40. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business 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 firm’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TSLA shares. Barclays restated a “negative” rating and issued a $350.00 price objective (up from $275.00) on shares of Tesla in a research note on Thursday, October 16th. HSBC boosted their price objective on shares of Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tesla from $435.00 to $440.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Truist Financial boosted their price objective on shares of Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research note on Thursday, October 23rd. Finally, Benchmark reiterated a “buy” 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 issued a Buy rating, twelve have assigned a Hold rating and eleven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average price target of $388.51.

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.