Vestmark Advisory Solutions Inc. Increases Holdings in Tesla, Inc. $TSLA

Vestmark Advisory Solutions Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 103.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 136,243 shares of the electric vehicle producer’s stock after buying an additional 69,149 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Tesla were worth $43,279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of TSLA. Siren L.L.C. acquired a new position in Tesla during the first quarter worth about $2,332,000. Zuckerman Investment Group LLC lifted its stake in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after purchasing an additional 826 shares in the last quarter. Keystone Global Partners LLC purchased a new position in Tesla in the 1st quarter worth approximately $594,000. Strs Ohio acquired a new position in shares of Tesla during the 1st quarter worth approximately $205,495,000. Finally, AustralianSuper Pty Ltd increased its holdings in shares of Tesla by 1,823.0% in the second quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock valued at $21,704,000 after purchasing an additional 64,772 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s 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 transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSLA. CICC Research boosted their price target on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Benchmark reissued a “buy” rating on shares of Tesla in a research note on Thursday, October 23rd. Canaccord Genuity Group decreased their price objective on Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. TD Cowen increased their price objective on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Finally, Piper Sandler lifted their target price on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and eleven have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $391.08.

Tesla Price Performance

TSLA opened at $445.91 on Friday. The stock’s 50-day moving average price is $419.05 and its 200 day moving average price is $353.32. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The firm has a market cap of $1.48 trillion, a price-to-earnings ratio of 297.27, 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 announced its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) 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 business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same period last year, the firm earned $0.72 earnings per share. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share 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.