Sanctuary Advisors LLC Acquires Shares of 230,182 Tesla, Inc. (NASDAQ:TSLA)

Sanctuary Advisors LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 230,182 shares of the electric vehicle producer’s stock, valued at approximately $45,548,000.

A number of other hedge funds have also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. lifted its stake in Tesla by 1.7% in the first quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock valued at $41,064,917,000 after buying an additional 3,795,748 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Tesla by 12.9% during 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 buying an additional 1,125,329 shares during the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of 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 buying an additional 5,875,484 shares during the last quarter. ARK Investment Management LLC lifted its holdings in Tesla by 2.6% in the 2nd quarter. ARK Investment Management LLC now owns 5,314,395 shares of the electric vehicle producer’s stock worth $1,051,613,000 after purchasing an additional 135,966 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Tesla by 9.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,959,699 shares of the electric vehicle producer’s stock worth $981,443,000 after buying an additional 412,872 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research reports. Truist Financial restated a “hold” rating and set a $215.00 price objective on shares of Tesla in a research report on Wednesday, August 14th. New Street Research lowered Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target on the stock. in a research note on Wednesday, July 24th. Mizuho upped their price objective on shares of Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday, July 12th. Roth Mkm reissued a “neutral” rating and issued a $85.00 price target on shares of Tesla in a research note on Wednesday, July 24th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $245.00 price objective on shares of Tesla in a report on Monday. Nine investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $209.90.

Insider Activity

In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $250.00, for a total value of $2,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Robyn M. Denholm sold 66,364 shares of the 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 transaction, the director now owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares in the company, valued at approximately $26,258,000. The disclosure for this sale can be found here. Insiders have sold 74,661 shares of company stock worth $16,663,291 over the last ninety days. Corporate insiders own 25.10% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $258.02 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. Tesla, Inc. has a one year low of $138.80 and a one year high of $271.00. The firm has a market capitalization of $824.28 billion, a P/E ratio of 65.82, a PEG ratio of 7.08 and a beta of 2.29. The business has a fifty day moving average of $222.33 and a 200 day moving average of $200.24.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current year.

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.