Southeast Asset Advisors LLC Buys 2,517 Shares of Tesla, Inc. $TSLA

Southeast Asset Advisors LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 31.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 10,529 shares of the electric vehicle producer’s stock after acquiring an additional 2,517 shares during the period. Southeast Asset Advisors LLC’s holdings in Tesla were worth $3,345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Columbia Bank acquired a new position in shares of Tesla in the 2nd quarter worth approximately $249,000. Laurel Wealth Advisors LLC boosted its position in Tesla by 32,559.6% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 379,178 shares of the electric vehicle producer’s stock valued at $120,450,000 after buying an additional 378,017 shares during the last quarter. Chaney Capital Management Inc. raised its position in shares of Tesla by 3.5% during the second quarter. Chaney Capital Management Inc. now owns 2,481 shares of the electric vehicle producer’s stock worth $788,000 after acquiring an additional 84 shares during the last quarter. Spectrum Wealth Advisory Group LLC lifted its position in Tesla by 3.4% during the 2nd quarter. Spectrum Wealth Advisory Group LLC now owns 941 shares of the electric vehicle producer’s stock valued at $299,000 after purchasing an additional 31 shares during the period. Finally, RiverFront Investment Group LLC grew its position in shares of Tesla by 368.1% during the 2nd quarter. RiverFront Investment Group LLC now owns 56,553 shares of the electric vehicle producer’s stock worth $17,965,000 after buying an additional 44,472 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several analyst reports. Piper Sandler increased their target price on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. Glj Research reiterated a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. William Blair reaffirmed a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Finally, Canaccord Genuity Group dropped their price objective on shares of Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $394.31.

Insider Activity at Tesla

In related news, 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 sale, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 82,606 shares of company stock valued at $33,554,102 over the last ninety days. 19.90% of the stock is owned by corporate insiders.

Tesla Price Performance

NASDAQ:TSLA opened at $417.78 on Tuesday. The company has a market cap of $1.39 trillion, a P/E ratio of 278.52, a P/E/G ratio of 16.84 and a beta of 2.06. The firm’s fifty day moving average price is $433.71 and its two-hundred day moving average price is $366.49. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $24.98 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. Equities analysts expect 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.