Guardian Asset Advisors LLC Increases Holdings in Tesla, Inc. $TSLA

Guardian Asset Advisors LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,159 shares of the electric vehicle producer’s stock after buying an additional 187 shares during the quarter. Tesla accounts for approximately 0.9% of Guardian Asset Advisors LLC’s holdings, making the stock its 26th biggest holding. Guardian Asset Advisors LLC’s holdings in Tesla were worth $1,639,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. First Merchants Corp raised its position in shares of Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after buying an additional 31 shares in the last quarter. Alaska Wealth Advisors raised its position in Tesla by 3.4% in the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after purchasing an additional 32 shares during the period. KWB Wealth raised its position in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after purchasing an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. raised its position in Tesla by 3.6% in the 2nd 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 during the period. Finally, Guyasuta Investment Advisors Inc. raised its position 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 during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TSLA. Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a research report on Monday, October 13th. Wedbush reissued an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. Finally, Canaccord Genuity Group dropped their target price on shares of Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have issued a Hold rating and eleven have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $380.97.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by corporate insiders.

Tesla Price Performance

NASDAQ TSLA opened at $448.98 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm’s 50 day moving average price is $396.00 and its 200-day moving average price is $338.45. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company has a market cap of $1.49 trillion, a PE ratio of 299.32, a P/E/G ratio of 15.78 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.72%. The company’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.