Tobias Financial Advisors Inc. Purchases New Holdings in Tesla, Inc. $TSLA

Tobias Financial Advisors Inc. acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 707 shares of the electric vehicle producer’s stock, valued at approximately $225,000.

Several other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Tesla in the 2nd quarter worth about $11,839,824,000. Goldman Sachs Group Inc. increased its holdings in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Nuveen LLC purchased a new stake in shares of Tesla in the first quarter worth approximately $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its position in shares of Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after purchasing an additional 6,435,598 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after purchasing an additional 4,502,976 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Melius Research set a $520.00 price objective on shares of Tesla and gave the company a “buy” rating in a research note on Monday, October 13th. Evercore ISI boosted their price target on shares of Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Truist Financial upped their price target 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. CICC Research lifted their price objective on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Finally, Canaccord Genuity Group lowered their target price on Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research note on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $394.03.

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on 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 sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 82,606 shares of company stock worth $33,554,102 over the last 90 days. Insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $430.10 on Friday. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 286.73, a P/E/G ratio of 16.84 and a beta of 2.06. The business has a 50-day moving average of $433.95 and a two-hundred day moving average of $369.19. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the prior year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.