King Luther Capital Management Corp Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

King Luther Capital Management Corp raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,348 shares of the electric vehicle producer’s stock after buying an additional 173 shares during the quarter. King Luther Capital Management Corp’s holdings in Tesla were worth $1,256,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TSLA. Beaton Management Co. Inc. lifted its position in Tesla by 35.1% during the second quarter. Beaton Management Co. Inc. now owns 5,181 shares of the electric vehicle producer’s stock valued at $1,025,000 after purchasing an additional 1,346 shares during the last quarter. Hollencrest Capital Management raised its position in shares of Tesla by 2.4% during the 2nd quarter. Hollencrest Capital Management now owns 63,021 shares of the electric vehicle producer’s stock valued at $12,471,000 after buying an additional 1,448 shares in the last quarter. Bridges Investment Management Inc. lifted its holdings in shares of Tesla by 17.3% in the 2nd quarter. Bridges Investment Management Inc. now owns 12,710 shares of the electric vehicle producer’s stock valued at $2,515,000 after acquiring an additional 1,875 shares during the last quarter. Callan Capital LLC grew its position in Tesla by 12.6% in the second quarter. Callan Capital LLC now owns 17,567 shares of the electric vehicle producer’s stock worth $3,476,000 after acquiring an additional 1,971 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in Tesla by 14.3% during the second quarter. Canada Pension Plan Investment Board now owns 1,119,394 shares of the electric vehicle producer’s stock worth $221,506,000 after acquiring an additional 139,634 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’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 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 filing with the SEC, which is available at this link. In other Tesla 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 transaction of $14,597,425.44. Following the completion of the transaction, 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 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 transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of TSLA opened at $238.25 on Monday. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a market cap of $759.83 billion, a PE ratio of 60.78, a P/E/G ratio of 6.00 and a beta of 2.29. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $271.00. The stock has a fifty day moving average price of $221.30 and a 200-day moving average price of $196.08.

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

Analyst Ratings Changes

Several research firms have recently issued reports on TSLA. Argus reaffirmed a “buy” rating and issued a $286.00 price objective on shares of Tesla in a research note on Friday, July 26th. Piper Sandler reaffirmed an “overweight” rating and set a $300.00 price objective on shares of Tesla in a research note on Monday, August 19th. Truist Financial reiterated a “hold” rating and set a $215.00 price objective on shares of Tesla in a research report on Wednesday, August 14th. Wolfe Research assumed coverage on shares of Tesla in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Mizuho upped their price target on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 12th. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $209.60.

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.