Praxis Investment Management Inc. Has $19.40 Million Stock Holdings in Tesla, Inc. $TSLA

Praxis Investment Management Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 2.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 61,070 shares of the electric vehicle producer’s stock after purchasing an additional 1,340 shares during the quarter. Tesla comprises about 1.2% of Praxis Investment Management Inc.’s portfolio, making the stock its 14th largest holding. Praxis Investment Management Inc.’s holdings in Tesla were worth $19,399,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of TSLA. Goldman Sachs Group Inc. raised its stake in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in shares of Tesla during the first quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC raised its holdings in Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after buying an additional 6,435,598 shares during the period. Amundi raised its holdings in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after buying an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. TD Cowen raised their price objective on shares of Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Glj Research reissued a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. JPMorgan Chase & Co. lifted their target price on Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Finally, Stifel Nicolaus set a $483.00 price objective on shares of Tesla and gave the company a “buy” rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $363.54.

Tesla Stock Down 1.5%

Tesla stock opened at $428.75 on Friday. The firm has a market capitalization of $1.43 trillion, a PE ratio of 247.83, a P/E/G ratio of 15.64 and a beta of 2.08. The company’s 50-day moving average is $385.34 and its 200-day moving average is $332.07. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.