Pittenger & Anderson Inc. Sells 249 Shares of Tesla, Inc. $TSLA

Pittenger & Anderson Inc. lowered its position in Tesla, Inc. (NASDAQ:TSLA) by 15.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,345 shares of the electric vehicle producer’s stock after selling 249 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Tesla were worth $427,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Phoenix Financial Ltd. increased its holdings in shares of Tesla by 14.5% in the second quarter. Phoenix Financial Ltd. now owns 68,090 shares of the electric vehicle producer’s stock worth $21,653,000 after purchasing an additional 8,632 shares during the period. Avidian Wealth Enterprises LLC increased its holdings in shares of Tesla by 10.9% in the second quarter. Avidian Wealth Enterprises LLC now owns 12,862 shares of the electric vehicle producer’s stock worth $4,086,000 after purchasing an additional 1,260 shares during the period. Canvas Wealth Advisors LLC increased its holdings in shares of Tesla by 3.1% in the second quarter. Canvas Wealth Advisors LLC now owns 40,255 shares of the electric vehicle producer’s stock worth $13,107,000 after purchasing an additional 1,217 shares during the period. Princeton Global Asset Management LLC increased its holdings in shares of Tesla by 37.3% in the second quarter. Princeton Global Asset Management LLC now owns 829 shares of the electric vehicle producer’s stock worth $263,000 after purchasing an additional 225 shares during the period. Finally, Schnieders Capital Management LLC increased its holdings in shares of Tesla by 94.2% in the second quarter. Schnieders Capital Management LLC now owns 9,085 shares of the electric vehicle producer’s stock worth $2,886,000 after purchasing an additional 4,406 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $442.60 on Wednesday. The company has a 50-day simple moving average of $391.74 and a two-hundred day simple moving average of $336.26. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The firm has a market cap of $1.47 trillion, a price-to-earnings ratio of 255.84, a PEG ratio of 16.08 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the previous year, the company earned $0.52 earnings per share. The business’s quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank Of Canada upped their target price on shares of Tesla from $325.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, October 10th. Stifel Nicolaus set a $483.00 target price on shares of Tesla and gave the stock a “buy” rating in a research report on Wednesday, October 8th. HSBC upped their target price on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Piper Sandler upped their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Finally, Industrial Alliance Securities set a $300.00 target price on shares of Tesla in a research report on Monday, October 13th. Two equities 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 company’s stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $363.54.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the 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 sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated 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 sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company’s stock.

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.