NFP Retirement Inc. Grows Position in Tesla, Inc. $TSLA

NFP Retirement Inc. lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 31.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 5,777 shares of the electric vehicle producer’s stock after purchasing an additional 1,366 shares during the period. NFP Retirement Inc.’s holdings in Tesla were worth $1,835,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TSLA. LGT Financial Advisors LLC bought a new position in shares of Tesla during the second quarter valued at about $29,000. Chelsea Counsel Co. increased its holdings in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Evergreen Private Wealth LLC raised its position in Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares during the last quarter. Glynn Capital Management LLC purchased a new stake in Tesla in the 2nd quarter worth approximately $35,000. Finally, LSV Asset Management grew its position in shares of Tesla by 400.0% in the 2nd quarter. LSV Asset Management now owns 120 shares of the electric vehicle producer’s stock worth $38,000 after buying an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $403.82 on Thursday. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.34 trillion, a P/E ratio of 269.21, a P/E/G ratio of 16.84 and a beta of 2.06. The business’s 50 day moving average price is $433.12 and its 200-day moving average price is $363.32. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same quarter last year, the company earned $0.72 EPS. The firm’s revenue for the quarter was up 11.6% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on TSLA. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and upped their target price for the company from $320.00 to $548.00 in a report on Friday, September 19th. Dbs Bank raised shares of Tesla to a “hold” rating in a research report on Wednesday, November 5th. Evercore ISI lifted their target price on shares of Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, October 29th. Melius started coverage on shares of Tesla in a research note on Monday, October 13th. They issued a “buy” rating and a $520.00 price target for the company. Finally, Piper Sandler upped their target price on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus price target of $394.31.

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The stock was 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 $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last three months. 19.90% of the stock is currently owned by corporate insiders.

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.