Angeles Investment Advisors LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Angeles Investment Advisors LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 105.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,968 shares of the electric vehicle producer’s stock after buying an additional 1,526 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Tesla were worth $587,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of TSLA. Bank & Trust Co bought a new position in Tesla during the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new stake in Tesla during the 2nd quarter valued at $26,000. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the 4th quarter valued at $37,000. Kessler Investment Group LLC boosted its stake in shares of Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 51 shares during the last quarter. Finally, Aspect Partners LLC grew its holdings in shares of Tesla by 121.3% in the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after acquiring an additional 114 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TSLA shares. UBS Group cut Tesla from a “neutral” rating to a “sell” rating and raised their target price for the stock from $147.00 to $197.00 in a research report on Friday, July 12th. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 target price on shares of Tesla in a research report on Monday, September 9th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. HSBC boosted their price objective on shares of Tesla from $120.00 to $130.00 in a research report on Wednesday, July 10th. Finally, Truist Financial reiterated a “hold” rating and set a $215.00 target price on shares of Tesla in a research report on Wednesday, August 14th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $209.60.

Tesla Price Performance

Tesla stock opened at $230.29 on Monday. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $278.98. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average is $223.37 and its 200 day moving average is $194.57. The company has a market cap of $734.44 billion, a price-to-earnings ratio of 58.75, a PEG ratio of 6.08 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (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 firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now 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 can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

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.