Bridges Investment Management Inc. Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Bridges Investment Management Inc. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,710 shares of the electric vehicle producer’s stock after purchasing an additional 1,875 shares during the period. Bridges Investment Management Inc.’s holdings in Tesla were worth $2,515,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Bank & Trust Co purchased a new stake in Tesla in the 2nd quarter valued at about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla in the 2nd quarter worth approximately $26,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla during the 4th quarter worth approximately $37,000. Guardian Wealth Management Inc. acquired a new stake in Tesla in the 4th quarter valued at approximately $47,000. Finally, Kessler Investment Group LLC raised its position in Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on TSLA shares. Truist Financial restated a “hold” rating and set a $215.00 price target on shares of Tesla in a research report on Wednesday, August 14th. William Blair assumed coverage on Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 price target on shares of Tesla in a research note on Monday, July 1st. China Renaissance upgraded shares of Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective for the company in a report on Friday, July 5th. Finally, Guggenheim increased their target price on shares of Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $209.60.

Insider Buying and Selling

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

Tesla Trading Down 2.3 %

Shares of Tesla stock opened at $238.25 on Friday. The company’s fifty day moving average is $221.30 and its two-hundred day moving average is $195.84. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $271.00. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The company has a market capitalization of $759.83 billion, a P/E ratio of 60.78, a PEG ratio of 6.00 and a beta of 2.29.

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