South Plains Financial Inc. Boosts Stock Holdings in Tesla, Inc. $TSLA

South Plains Financial Inc. increased its stake in Tesla, Inc. by 34.8% in Q2, owning 3,597 shares valued at $1,143,000. Other institutions like Goldman Sachs and Vanguard also adjusted their Tesla holdings. Tesla's stock opened at $391.09, with a market cap of $1.30 trillion. Analysts predict Tesla will post 2.56 EPS for the year. Insider trading saw significant stock sales by Tesla executives.

South Plains Financial Inc. increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 34.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,597 shares of the electric vehicle producer's stock after acquiring an additional 929 shares during the period. South Plains Financial Inc.'s holdings in Tesla were worth $1,143,000 at the end of the most recent reporting period.

MarketBeat Week in Review – 11/17 - 11/21

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new position in Tesla in the 1st quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC raised its holdings in shares of Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the last quarter. Vanguard Group Inc. lifted its position in Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer's stock valued at $79,856,764,000 after purchasing an additional 4,502,976 shares during the period. Finally, Amundi boosted its holdings in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Trading Down 1.0%

Tesla stock opened at $391.09 on Monday. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The firm has a market capitalization of $1.30 trillion, a price-to-earnings ratio of 260.73, a P/E/G ratio of 16.84 and a beta of 2.06. The firm has a 50 day moving average of $433.55 and a 200 day moving average of $365.56. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

Peter Thiel Dumps NVIDIA and Slashes Tesla Stake—Is the AI Bubble About to Pop?

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company's revenue was up 11.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 earnings per share. As a group, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

Is Tesla Setting Up for a Year-End Rebound—or a Collapse?

A number of brokerages have weighed in on TSLA. Wedbush reiterated an "outperform" rating and set a $600.00 target price on shares of Tesla in a research note on Wednesday, November 5th. Roth Capital set a $505.00 target price on Tesla and gave the company a "buy" rating in a report on Thursday, October 23rd. Stifel Nicolaus boosted their price target on Tesla from $483.00 to $508.00 and gave the company a "buy" rating in a research note on Monday, November 17th. HSBC reiterated a "reduce" rating on shares of Tesla in a research note on Monday, November 17th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $394.31.

View Our Latest Research Report on Tesla

About Tesla

(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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