Forvis Mazars Wealth Advisors LLC Boosts Holdings in Tesla, Inc. $TSLA

Forvis Mazars Wealth Advisors LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,387 shares of the electric vehicle producer’s stock after acquiring an additional 878 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Tesla were worth $2,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. First Merchants Corp boosted its holdings in Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after buying an additional 31 shares during the period. KWB Wealth grew its position in shares of Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after purchasing an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. grew its position in shares of Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after purchasing an additional 34 shares in the last quarter. Guyasuta Investment Advisors Inc. lifted its holdings in Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after purchasing an additional 34 shares in the last quarter. Finally, Acorn Creek Capital LLC lifted its holdings in Tesla by 1.6% in the 2nd quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer’s stock worth $697,000 after purchasing an additional 34 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Bank of America lifted their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Barclays reiterated a “negative” rating and issued a $350.00 price target (up from $275.00) on shares of Tesla in a report on Thursday. Royal Bank Of Canada increased their price objective on shares of Tesla from $325.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Finally, Mizuho increased their price target on Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $363.54.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last three months. 19.90% of the stock is owned by company insiders.

Tesla Trading Up 2.5%

Shares of NASDAQ TSLA opened at $439.31 on Monday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year 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. The business’s 50 day moving average is $387.54 and its two-hundred day moving average is $334.06. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 253.94, a PEG ratio of 15.79 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 EPS. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.