KEY POINTS
Vanguard Group raised its Tesla stake 1.8% in Q2, adding 4,502,976 shares to hold 251,390,681 shares (about 7.79% of Tesla) valued at roughly $79.86 billion, making TSLA Vanguard's eighth-largest position.
Tesla beat the quarter with EPS of $0.50 versus $0.48 estimated and revenue of $28.10 billion (up 11.6% year-over-year), while the stock trades near $409 and the company carries a market cap of about $1.36 trillion.
Analysts' consensus is an average rating of Hold with an average price target of $394.31 (below the recent share price), and insiders have sold about 202,606 shares (~$75.6 million) in the past 90 days.
Five stocks we like better than Tesla.
Vanguard Group Inc. increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 1.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 251,390,681 shares of the electric vehicle producer's stock after acquiring an additional 4,502,976 shares during the period. Tesla comprises approximately 1.3% of Vanguard Group Inc.'s holdings, making the stock its 8th largest position. Vanguard Group Inc. owned approximately 7.79% of Tesla worth $79,856,764,000 at the end of the most recent quarter.
These 3 Beaten-Down Stocks Could Be Your Best Buying Opportunity This Quarter
A number of other hedge funds and other institutional investors have also recently modified their holdings of TSLA. First Merchants Corp boosted its holdings in shares of Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer's stock valued at $767,000 after acquiring an additional 31 shares during the last quarter. Alaska Wealth Advisors boosted its holdings in Tesla by 3.4% in the second quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer's stock worth $313,000 after purchasing an additional 32 shares during the last quarter. KWB Wealth grew its position in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock worth $439,000 after purchasing an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. raised its stake in Tesla by 3.6% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock valued at $310,000 after buying an additional 34 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. lifted its holdings in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock valued at $1,622,000 after buying an additional 34 shares during the period. 66.20% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of analysts recently commented on the company. Industrial Alliance Securities set a $300.00 price objective on Tesla in a research report on Monday, October 13th. Barclays reaffirmed a "negative" rating and set a $350.00 price target (up previously from $275.00) on shares of Tesla in a research report on Thursday, October 16th. Melius Research set a $520.00 price objective on shares of Tesla and gave the stock a "buy" rating in a report on Monday, October 13th. President Capital boosted their target price on shares of Tesla from $373.00 to $529.00 and gave the company a "buy" rating in a research report on Wednesday, October 29th. Finally, Wall Street Zen upgraded shares of Tesla from a "sell" rating to a "hold" rating in a research report on Saturday, October 25th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $394.31.Tesla Has Been Trapped in a 10% Range for Months—What’s Going On? Read Our Latest Report on TSLA
Tesla Stock Up 1.1%
Shares of TSLA stock opened at $408.92 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company's fifty day moving average price is $430.92 and its 200-day moving average price is $362.23. The company has a market capitalization of $1.36 trillion, a price-to-earnings ratio of 272.61, a PEG ratio of 16.84 and a beta of 2.06. Rivian’s Chart Says Go, But Some Analysts Still Say No Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the prior year, the business posted $0.72 EPS. Tesla's revenue for the quarter was up 11.6% compared to the same quarter last year. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.
