GM Advisory Group LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

GM Advisory Group LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,869 shares of the electric vehicle producer’s stock after purchasing an additional 302 shares during the period. GM Advisory Group LLC’s holdings in Tesla were worth $1,755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Integris Wealth Management LLC boosted its position in Tesla by 1.0% during the second quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the last quarter. Echo Wealth Management LLC increased its stake in Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares during the last quarter. WASHINGTON TRUST Co raised its holdings in Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after buying an additional 45 shares during the period. Bellevue Asset Management LLC lifted its position in Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after buying an additional 45 shares in the last quarter. Finally, Cypress Capital Group grew its stake in Tesla by 1.7% during the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after buying an additional 47 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated 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 sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s 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 sale, 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 is available through the SEC website. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $243.92 on Friday. The company has a market cap of $777.91 billion, a P/E ratio of 62.22, a PEG ratio of 6.00 and a beta of 2.29. The business has a 50 day moving average of $221.50 and a two-hundred day moving average of $195.49. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.93. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

Analyst Ratings Changes

TSLA has been the topic of a number of research reports. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and raised their target price for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Guggenheim boosted their price objective on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a research note on Friday, September 13th. Piper Sandler reiterated an “overweight” rating and issued a $300.00 target price on shares of Tesla in a research note on Monday, August 19th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Finally, Truist Financial restated a “hold” rating and issued a $215.00 price target on shares of Tesla in a report on Wednesday, August 14th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $209.60.

Tesla 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.