Simon Quick Advisors LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Simon Quick Advisors LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 55.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,694 shares of the electric vehicle producer’s stock after buying an additional 5,983 shares during the period. Simon Quick Advisors LLC’s holdings in Tesla were worth $3,303,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Beacon Bridge Wealth Partners LLC grew its position in Tesla by 5.7% in the 2nd quarter. Beacon Bridge Wealth Partners LLC now owns 4,424 shares of the electric vehicle producer’s stock valued at $875,000 after buying an additional 237 shares during the last quarter. Cozad Asset Management Inc. lifted its holdings in Tesla by 3.5% in the second quarter. Cozad Asset Management Inc. now owns 4,462 shares of the electric vehicle producer’s stock valued at $883,000 after acquiring an additional 151 shares during the period. Fortem Financial Group LLC lifted its holdings in Tesla by 6.3% in the second quarter. Fortem Financial Group LLC now owns 21,292 shares of the electric vehicle producer’s stock valued at $4,213,000 after acquiring an additional 1,267 shares during the period. Founders Financial Securities LLC lifted its holdings in Tesla by 23.4% in the second quarter. Founders Financial Securities LLC now owns 13,328 shares of the electric vehicle producer’s stock valued at $2,637,000 after acquiring an additional 2,526 shares during the period. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Tesla by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 238,360 shares of the electric vehicle producer’s stock valued at $47,167,000 after acquiring an additional 1,347 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Up 3.2 %

NASDAQ:TSLA traded up $6.67 during trading hours on Wednesday, hitting $217.27. The stock had a trading volume of 13,510,729 shares, compared to its average volume of 96,900,203. The company has a market cap of $694.10 billion, a PE ratio of 53.72, a price-to-earnings-growth ratio of 5.55 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The business has a 50 day simple moving average of $223.09 and a two-hundred day simple moving average of $193.08. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 earnings per share. Analysts predict that Tesla, Inc. will post 1.79 EPS for the current year.

Analyst Ratings Changes

TSLA has been the subject of several research reports. Citigroup cut their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research note on Wednesday, July 24th. William Blair began coverage on Tesla in a research note on Thursday, August 29th. They set an “outperform” rating for the company. Barclays cut their target price on shares of Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Piper Sandler restated an “overweight” rating and issued a $300.00 target price on shares of Tesla in a report on Monday, August 19th. Finally, Wedbush restated an “outperform” rating and issued a $300.00 target price on shares of Tesla in a report on Wednesday, July 24th. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $204.21.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The disclosure for this sale can be found here. Company 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.