Sofos Investments Inc. Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Sofos Investments Inc. lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,216 shares of the electric vehicle producer’s stock after buying an additional 123 shares during the quarter. Tesla comprises about 1.8% of Sofos Investments Inc.’s holdings, making the stock its 12th biggest holding. Sofos Investments Inc.’s holdings in Tesla were worth $4,905,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its position in Tesla by 1.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 144,183 shares of the electric vehicle producer’s stock valued at $96,304,000 after purchasing an additional 1,394 shares during the last quarter. NZS Capital LLC purchased a new position in Tesla during the 2nd quarter worth $9,359,000. Meiji Yasuda Asset Management Co Ltd. raised its position in Tesla by 50.7% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 14,391 shares of the electric vehicle producer’s stock worth $9,612,000 after buying an additional 4,841 shares during the last quarter. Federated Hermes Inc. raised its position in Tesla by 61.3% during the 1st quarter. Federated Hermes Inc. now owns 29,728 shares of the electric vehicle producer’s stock worth $19,857,000 after buying an additional 11,299 shares during the last quarter. Finally, Brookstone Capital Management purchased a new position in Tesla during the 2nd quarter worth $7,747,000. Hedge funds and other institutional investors own 40.28% of the company’s stock.

NASDAQ TSLA traded up $11.79 during mid-day trading on Tuesday, hitting $741.96. The company’s stock had a trading volume of 481,702 shares, compared to its average volume of 28,104,539. Tesla, Inc. has a 52-week low of $351.30 and a 52-week high of $900.40. The stock’s fifty day simple moving average is $702.44 and its two-hundred day simple moving average is $670.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.22. The firm has a market capitalization of $734.55 billion, a P/E ratio of 380.30, a price-to-earnings-growth ratio of 6.20 and a beta of 1.95.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Sunday, July 25th. The electric vehicle producer reported $1.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.93. Tesla had a net margin of 5.21% and a return on equity of 9.75%. The firm had revenue of $11.96 billion for the quarter, compared to analyst estimates of $11.39 billion. During the same quarter last year, the firm posted $0.44 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 3.39 earnings per share for the current fiscal year.

A number of equities analysts have commented on TSLA shares. Jefferies Financial Group upgraded shares of Tesla from a “hold” rating to a “buy” rating and upped their price objective for the stock from $700.00 to $850.00 in a research report on Monday, August 9th. Piper Sandler reaffirmed an “overweight” rating and set a $1,200.00 price target on shares of Tesla in a research note on Tuesday, August 3rd. TheStreet raised shares of Tesla from a “c+” rating to a “b” rating in a research note on Monday, August 16th. KGI Securities initiated coverage on shares of Tesla in a research note on Monday, August 2nd. They set an “outperform” rating and a $855.00 price target on the stock. Finally, UBS Group upped their price target on shares of Tesla from $660.00 to $725.00 and gave the stock a “neutral” rating in a research note on Thursday, August 12th. Eight research analysts have rated the stock with a sell rating, nine have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average price target of $602.16.

In other Tesla news, SVP Andrew D. Baglino sold 1,500 shares of Tesla stock in a transaction on Monday, June 28th. The shares were sold at an average price of $671.64, for a total value of $1,007,460.00. Following the completion of the transaction, the senior vice president now owns 19,567 shares of the company’s stock, valued at $13,141,979.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Andrew D. Baglino sold 896 shares of Tesla stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $752.90, for a total transaction of $674,598.40. Following the completion of the transaction, the senior vice president now directly owns 18,420 shares of the company’s stock, valued at approximately $13,868,418. The disclosure for this sale can be found here. Insiders sold 89,402 shares of company stock valued at $63,982,010 in the last ninety days. 25.00% of the stock is owned by corporate insiders.

Tesla Company Profile

Tesla, Inc engages in the design, development, manufacture, and sale of fully electric vehicles, energy generation and storage systems. It also provides vehicle service centers, supercharger station, and self-driving capability. The company operates through the following segments: Automotive and Energy Generation and Storage.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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