Tesla, Inc. $TSLA Stock Holdings Lifted by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 326.4% in the second quarter, Holdings Channel.com reports. The firm owned 16,761 shares of the electric vehicle producer’s stock after purchasing an additional 12,830 shares during the period. Hillsdale Investment Management Inc.’s holdings in Tesla were worth $5,324,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Industrial Alliance Securities set a $300.00 price target on Tesla in a research note on Monday, October 13th. Wedbush reiterated an “outperform” rating and issued a $600.00 target price on shares of Tesla in a research note on Wednesday, November 5th. Bank of America increased their price target on shares of Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 29th. DZ Bank reiterated a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. Finally, Canaccord Genuity Group cut their target price on Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $394.31.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by company insiders.

Tesla Trading Down 1.0%

Shares of Tesla stock opened at $391.09 on Friday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The company’s fifty day simple moving average is $433.55 and its 200-day simple moving average is $364.31. The company has a market cap of $1.30 trillion, a price-to-earnings ratio of 260.73, a PEG ratio of 16.84 and a beta of 2.06. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

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

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.