Retirement Investment Advisors Inc. Acquires New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Retirement Investment Advisors Inc. acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 2,858 shares of the electric vehicle producer’s stock, valued at approximately $566,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank & Trust Co acquired a new position in shares of Tesla during the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. bought a new stake in Tesla during the second quarter worth about $26,000. OLD Point Trust & Financial Services N A acquired a new position in Tesla during the fourth quarter valued at approximately $37,000. Guardian Wealth Management Inc. bought a new position in Tesla in the fourth quarter valued at approximately $47,000. Finally, Kessler Investment Group LLC increased its position in shares of Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TSLA. Canaccord Genuity Group reissued a “buy” rating and issued a $254.00 price objective on shares of Tesla in a report on Friday, September 13th. Mizuho lifted their price objective on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. KGI Securities reaffirmed a “neutral” rating and issued a $236.00 target price on shares of Tesla in a report on Thursday, July 25th. Truist Financial reiterated a “hold” rating and issued a $215.00 target price on shares of Tesla in a research note on Wednesday, August 14th. Finally, Barclays lowered their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $209.60.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

Tesla Trading Up 7.4 %

Shares of Tesla stock opened at $243.92 on Friday. The company has a market capitalization of $777.91 billion, a price-to-earnings ratio of 62.22, a PEG ratio of 6.00 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.93. The firm’s 50-day moving average price is $221.50 and its two-hundred day moving average price is $195.49.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The firm had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.78 earnings per share. On average, analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal 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.