Hollencrest Capital Management Has $12.47 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Hollencrest Capital Management grew its position in Tesla, Inc. (NASDAQ:TSLA) by 2.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 63,021 shares of the electric vehicle producer’s stock after buying an additional 1,448 shares during the period. Hollencrest Capital Management’s holdings in Tesla were worth $12,471,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Integris Wealth Management LLC increased its stake in Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after acquiring an additional 42 shares during the period. Echo Wealth Management LLC increased its position in shares of Tesla by 0.7% in the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after purchasing an additional 44 shares during the period. WASHINGTON TRUST Co raised its stake in Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after purchasing an additional 45 shares in the last quarter. Bellevue Asset Management LLC lifted its position in Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares during the period. Finally, Cypress Capital Group grew its stake in Tesla by 1.7% during the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock worth $555,000 after buying an additional 47 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on TSLA shares. Mizuho increased their price target on shares of Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a research report on Friday, July 12th. Stifel Nicolaus assumed coverage on Tesla in a report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price target for the company. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 target price on shares of Tesla in a report on Monday. Citigroup lowered their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 target price on shares of Tesla in a research report on Tuesday, September 10th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $209.60.

Tesla Stock Up 7.4 %

Shares of NASDAQ:TSLA opened at $243.92 on Friday. The stock has a market cap 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 business’s 50 day moving average is $221.50 and its 200 day moving average is $195.49. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $273.93. 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 (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 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 firm had revenue of $25.50 billion during the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the prior year, the company earned $0.78 EPS. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, sell-side analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction 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 $18,696,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, 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. Insiders own 25.10% of the company’s stock.

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.