Callahan Advisors LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

Callahan Advisors LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 15.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 967 shares of the electric vehicle producer’s stock after purchasing an additional 132 shares during the period. Callahan Advisors LLC’s holdings in Tesla were worth $251,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of TSLA. Rinkey Investments boosted its holdings in Tesla by 3.5% in the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock worth $347,000 after acquiring an additional 29 shares in the last quarter. Pitti Group Wealth Management LLC boosted its holdings in Tesla by 2.2% in the fourth quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer’s stock worth $594,000 after acquiring an additional 31 shares in the last quarter. True Wealth Design LLC boosted its holdings in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. boosted its holdings in Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares in the last quarter. Finally, Aldebaran Financial Inc. lifted its holdings in shares of Tesla by 3.1% during the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer’s stock valued at $490,000 after purchasing an additional 35 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSLA. Morgan Stanley reaffirmed an “overweight” rating and set a $410.00 price target on shares of Tesla in a report on Friday, June 6th. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. William Blair downgraded Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, July 7th. Guggenheim reissued a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Tuesday. Finally, Wedbush reissued an “outperform” rating and issued a $500.00 target price on shares of Tesla in a report on Tuesday. Ten equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus target price of $300.19.

Read Our Latest Analysis on Tesla

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is owned by insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $313.51 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The stock’s 50 day simple moving average is $322.60 and its two-hundred day simple moving average is $321.24. The company has a market cap of $1.01 trillion, a price-to-earnings ratio of 172.26, a PEG ratio of 9.22 and a beta of 2.39.

Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the firm earned $0.45 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla Company Profile

(Free Report)

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.

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