Clay Northam Wealth Management LLC Has $2.55 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Clay Northam Wealth Management LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,859 shares of the electric vehicle producer’s stock after buying an additional 106 shares during the quarter. Tesla makes up about 1.9% of Clay Northam Wealth Management LLC’s holdings, making the stock its 13th biggest position. Clay Northam Wealth Management LLC’s holdings in Tesla were worth $2,545,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of TSLA. Integris Wealth Management LLC increased its position in Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares during the last quarter. Williams Financial LLC bought a new stake in shares of Tesla in the 2nd quarter valued at approximately $2,867,000. Raymond James & Associates raised its position in Tesla by 11.7% during the second quarter. Raymond James & Associates now owns 1,304,551 shares of the electric vehicle producer’s stock valued at $258,144,000 after acquiring an additional 137,056 shares in the last quarter. Calton & Associates Inc. lifted its stake in Tesla by 3.8% in the second quarter. Calton & Associates Inc. now owns 1,429 shares of the electric vehicle producer’s stock valued at $283,000 after acquiring an additional 52 shares during the last quarter. Finally, Summit Financial Strategies Inc. grew its position in Tesla by 17.1% in the second quarter. Summit Financial Strategies Inc. now owns 7,311 shares of the electric vehicle producer’s stock worth $1,447,000 after acquiring an additional 1,070 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSLA. TD Cowen lifted their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price target on shares of Tesla in a research note on Monday, June 10th. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research note on Friday, July 5th. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday, July 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and an average target price of $204.21.

Tesla Price Performance

Shares of TSLA stock traded up $1.98 during trading on Friday, hitting $216.12. The company had a trading volume of 88,620,586 shares, compared to its average volume of 90,901,848. The stock’s 50-day moving average price is $215.14 and its 200 day moving average price is $190.99. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91. The firm has a market capitalization of $689.25 billion, a P/E ratio of 55.13, a price-to-earnings-growth ratio of 5.22 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the previous year, the company posted $0.78 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. Equities analysts expect that Tesla, Inc. will post 1.79 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Tesla Company 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.