Mercer Global Advisors Inc. ADV Has $62.30 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Mercer Global Advisors Inc. ADV increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 14.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 314,477 shares of the electric vehicle producer’s stock after acquiring an additional 39,664 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Tesla were worth $62,297,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Bank & Trust Co purchased a new position in shares of Tesla during the second quarter valued at approximately $25,000. Valley Wealth Managers Inc. purchased a new position in Tesla during the 2nd quarter worth $26,000. OLD Point Trust & Financial Services N A purchased a new position in Tesla during the 4th quarter worth $37,000. Kessler Investment Group LLC grew its stake in shares of Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 51 shares in the last quarter. Finally, Aspect Partners LLC raised its holdings in shares of Tesla by 121.3% in the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock valued at $41,000 after purchasing an additional 114 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TSLA. Wedbush reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research report on Wednesday, July 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 target price on shares of Tesla in a report on Thursday, September 5th. Truist Financial reiterated a “hold” rating and set a $215.00 price target on shares of Tesla in a report on Wednesday, August 14th. Guggenheim upped their price objective on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Finally, Wolfe Research began coverage on Tesla in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Nine research analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $209.60.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated 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 directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

Tesla Stock Up 0.5 %

Shares of NASDAQ:TSLA opened at $227.87 on Wednesday. The firm has a fifty day moving average price of $222.16 and a two-hundred day moving average price of $194.93. The company has a market cap of $726.72 billion, a price-to-earnings ratio of 58.13, a PEG ratio of 6.08 and a beta of 2.29. 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 $273.93.

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