McAdam LLC Has $1.41 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

McAdam LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,132 shares of the electric vehicle producer’s stock after buying an additional 369 shares during the period. McAdam LLC’s holdings in Tesla were worth $1,411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. International Assets Investment Management LLC grew its stake in Tesla by 5.0% in the 4th quarter. International Assets Investment Management LLC now owns 24,963 shares of the electric vehicle producer’s stock valued at $6,203,000 after buying an additional 1,189 shares during the last quarter. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in shares of Tesla during the fourth quarter worth approximately $310,000. Wynn Capital LLC acquired a new stake in Tesla during the 4th quarter worth approximately $5,622,000. Magnolia Capital Advisors LLC boosted its stake in Tesla by 12.7% in the 4th quarter. Magnolia Capital Advisors LLC now owns 4,902 shares of the electric vehicle producer’s stock valued at $1,218,000 after purchasing an additional 551 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in Tesla by 6.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 65,464 shares of the electric vehicle producer’s stock valued at $16,266,000 after buying an additional 3,964 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 4.6 %

Shares of TSLA stock traded up $9.66 during trading hours on Friday, hitting $220.32. 81,303,680 shares of the company’s stock traded hands, compared to its average volume of 98,612,938. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98. The stock has a market cap of $702.64 billion, a PE ratio of 56.20, a price-to-earnings-growth ratio of 5.60 and a beta of 2.31. The stock’s 50 day simple moving average is $219.46 and its 200 day simple moving average is $192.09.

Tesla (NASDAQ:TSLA) last announced its earnings results 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 company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 1.79 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. HSBC lifted their target price on Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Evercore ISI decreased their target price on shares of Tesla from $155.00 to $145.00 and set an “in-line” rating on the stock in a research report on Monday, April 29th. TD Cowen lifted their price target on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Truist Financial reiterated a “hold” rating and issued a $215.00 price target on shares of Tesla in a research note on Wednesday, August 14th. Finally, Canaccord Genuity Group raised their price objective on Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $204.21.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated 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 completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is currently owned by company insiders.

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.