Nadler Financial Group Inc. Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Nadler Financial Group Inc. increased its position in Tesla, Inc. (NASDAQ:TSLA) by 1.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,161 shares of the electric vehicle producer’s stock after acquiring an additional 140 shares during the period. Nadler Financial Group Inc.’s holdings in Tesla were worth $2,011,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in Tesla by 5.0% during the 4th quarter. International Assets Investment Management LLC now owns 24,963 shares of the electric vehicle producer’s stock valued at $6,203,000 after buying an additional 1,189 shares during the last quarter. HTLF Bank bought a new position in Tesla in the 4th quarter worth $741,000. abrdn plc boosted its holdings in Tesla by 33.7% in the 4th quarter. abrdn plc now owns 2,233,104 shares of the electric vehicle producer’s stock worth $554,882,000 after buying an additional 563,265 shares during the period. Lindbrook Capital LLC boosted its holdings in Tesla by 10.0% in the 4th quarter. Lindbrook Capital LLC now owns 13,746 shares of the electric vehicle producer’s stock worth $3,415,000 after buying an additional 1,250 shares during the period. Finally, Carmel Capital Partners LLC boosted its holdings in Tesla by 3.7% in the 4th quarter. Carmel Capital Partners LLC now owns 4,290 shares of the electric vehicle producer’s stock worth $1,066,000 after buying an additional 154 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent analyst reports. Mizuho upped their target price on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Evercore ISI dropped their price objective on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, April 29th. Canaccord Genuity Group increased their price objective on shares of Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a report on Wednesday, July 3rd. Barclays reduced their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday, July 9th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and a consensus price target of $204.21.

Tesla Stock Down 0.7 %

TSLA traded down $1.62 during trading on Tuesday, hitting $221.10. The company had a trading volume of 73,862,424 shares, compared to its average volume of 89,918,896. The company has a market cap of $706.33 billion, a PE ratio of 56.40, a P/E/G ratio of 5.60 and a beta of 2.31. The business has a 50-day moving average of $216.12 and a 200-day moving average of $191.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.78 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 1.79 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Company 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.