Acorns Advisers LLC Increases Position in Tesla, Inc. $TSLA

Acorns Advisers LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,844 shares of the electric vehicle producer’s stock after purchasing an additional 3,501 shares during the period. Tesla comprises approximately 0.1% of Acorns Advisers LLC’s portfolio, making the stock its 24th largest position. Acorns Advisers LLC’s holdings in Tesla were worth $8,845,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of TSLA. Holos Integrated Wealth LLC boosted its position in shares of Tesla by 10.8% during the 2nd quarter. Holos Integrated Wealth LLC now owns 309 shares of the electric vehicle producer’s stock worth $102,000 after acquiring an additional 30 shares in the last quarter. First Merchants Corp raised its position 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 worth $767,000 after acquiring an additional 31 shares in the last quarter. Kaye Capital Management lifted its stake in Tesla by 3.1% during the second quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer’s stock worth $333,000 after purchasing an additional 31 shares during the last quarter. Spectrum Wealth Advisory Group LLC boosted its holdings in Tesla by 3.4% in the second quarter. Spectrum Wealth Advisory Group LLC now owns 941 shares of the electric vehicle producer’s stock valued at $299,000 after purchasing an additional 31 shares in the last quarter. Finally, Wambolt & Associates LLC increased its stake in Tesla by 1.0% in the second quarter. Wambolt & Associates LLC now owns 3,119 shares of the electric vehicle producer’s stock valued at $938,000 after purchasing an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Tesla from $440.00 to $470.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Cowen reissued a “buy” rating on shares of Tesla in a research report on Monday, November 17th. Stifel Nicolaus raised their price objective on Tesla from $483.00 to $508.00 and gave the stock a “buy” rating in a report on Monday, November 17th. Dbs Bank upgraded Tesla to a “hold” rating in a research report on Wednesday, November 5th. Finally, Baird R W raised Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $398.92.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 82,606 shares of company stock worth $33,554,102. Company insiders own 19.90% of the company’s stock.

Tesla Stock Down 0.2%

Shares of Tesla stock opened at $429.24 on Wednesday. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company has a market cap of $1.43 trillion, a P/E ratio of 286.16, a PEG ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The firm has a fifty day moving average of $433.94 and a two-hundred day moving average of $370.52.

Tesla (NASDAQ:TSLA) last issued its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.