Inspire Advisors LLC Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Inspire Advisors LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 23.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 2,012 shares of the electric vehicle producer’s stock after purchasing an additional 382 shares during the period. Inspire Advisors LLC’s holdings in Tesla were worth $398,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Tesla during the 4th quarter valued at $7,844,757,000. Strategic Financial Concepts LLC raised its position in Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after purchasing an additional 5,875,484 shares during the last quarter. Vanguard Group Inc. lifted its stake in Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Tesla by 2,101.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,469,190 shares of the electric vehicle producer’s stock valued at $365,064,000 after purchasing an additional 1,402,443 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Tesla by 12.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $230.29 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company has a market cap of $735.69 billion, a PE ratio of 58.75, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. The company has a 50-day simple moving average of $223.37 and a 200-day simple moving average of $194.63. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98.

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 analysts’ consensus estimates 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 previous year, the business posted $0.78 earnings per share. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction 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 transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 owns 67,491 shares in the company, valued at approximately $14,967,479.07. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The stock was 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 of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TSLA. KGI Securities reiterated a “neutral” rating and set a $236.00 target price on shares of Tesla in a report on Thursday, July 25th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. Wolfe Research initiated coverage on Tesla in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Truist Financial restated a “hold” rating and issued a $215.00 price objective on shares of Tesla in a research note on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $295.00 price target on shares of Tesla in a research report on Tuesday, September 10th. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $209.60.

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.