Exencial Wealth Advisors LLC has increased its holdings in Tesla, Inc. by 35.1% during the second quarter, according to a recent filing with the Securities & Exchange Commission. The investment firm now owns 23,070 shares of the electric vehicle manufacturer, following the acquisition of 5,988 additional shares during the quarter. The total value of Exencial’s stake in Tesla is approximately $7.33 million.
Several other institutional investors have also adjusted their positions in Tesla recently. Siren L.L.C. initiated a new stake in the company valued at around $2.33 million in the first quarter. Meanwhile, Zuckerman Investment Group LLC raised its position in Tesla by 6.9%, now owning 12,748 shares worth about $3.30 million. Keystone Global Partners LLC and Strs Ohio both entered new positions in the first quarter, valued at $594,000 and $205,495,000 respectively. Additionally, IFM Investors Pty Ltd boosted its position in Tesla by 8.5%, now holding 586,460 shares valued at approximately $153.44 million. In total, institutional investors and hedge funds now own 66.20% of Tesla’s stock.
Analysts Adjust Price Targets for Tesla
Numerous research firms have recently updated their price targets for Tesla shares. HSBC raised its target from $120.00 to $127.00 in a report dated September 29. Bank of America increased its target from $305.00 to $341.00, maintaining a “neutral” rating on July 21. Daiwa Capital Markets reiterated a “neutral” rating on July 27, while Evercore ISI increased its target from $235.00 to $300.00, giving an “in-line” rating on October 13. Deutsche Bank Aktiengesellschaft also raised its target from $345.00 to $435.00 while assigning a “buy” rating in a report issued on September 26. Currently, the consensus rating for Tesla shares is “Hold,” with a target price of $363.54, as per MarketBeat data.
Insider Trading Activity
In related news, Tesla’s Director, James R. Murdoch, sold 120,000 shares on August 26 at an average price of $350.29, resulting in a total transaction value of approximately $42.03 million. After this sale, Murdoch holds 697,031 shares valued at around $244.16 million, marking a 14.69% decrease in his ownership. This transaction was disclosed in a filing with the Securities & Exchange Commission.
Additionally, Chief Financial Officer Vaibhav Taneja sold 2,606 shares on September 8 at an average price of $352.38, amounting to approximately $918,302.28. Following this sale, Taneja owns 9,856 shares valued at around $3.47 million, reflecting a 20.91% decrease in his stake. In the past three months, insiders have sold a total of 202,606 shares valued at $75.59 million, with company insiders currently holding 19.90% of Tesla’s stock.
Tesla’s stock opened at $442.60 on Wednesday. Over the past year, it has seen a low of $212.11 and a high of $488.54. The stock’s fifty-day moving average stands at $391.74, while the two-hundred day moving average is $336.26. The company has a market capitalization of $1.47 trillion, a price-to-earnings ratio of 255.84, and a debt-to-equity ratio of 0.07.
Tesla’s most recent quarterly earnings report, released on July 23, indicated earnings per share (EPS) of $0.40, falling short of the consensus estimate of $0.43. Revenue for the quarter was reported at $22.50 billion, below the expected $23.18 billion, and representing an 11.8% decline year-over-year. Analysts project that Tesla will achieve an EPS of $2.56 for the current fiscal year.
Founded in 2003, Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles and energy solutions globally, operating in two segments: Automotive and Energy Generation and Storage. The Automotive segment includes electric vehicle sales, regulatory credits, and after-sales services.
For those interested in tracking Tesla’s stock performance and insider activities, detailed 13F filings and trading information can be found on financial news platforms.
