Caprock Group LLC Buys 2,936 Shares of Tesla, Inc. (NASDAQ:TSLA)

Caprock Group LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.1% during the second quarter, Holdings Channel.com reports. The fund owned 32,122 shares of the electric vehicle producer’s stock after acquiring an additional 2,936 shares during the period. Caprock Group LLC’s holdings in Tesla were worth $6,356,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Integris Wealth Management LLC grew its stake 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 valued at $804,000 after buying an additional 42 shares in the last quarter. Echo Wealth Management LLC raised its stake in shares of Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock valued at $1,281,000 after purchasing an additional 44 shares during the period. WASHINGTON TRUST Co lifted its holdings in Tesla by 3.2% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock worth $284,000 after purchasing an additional 45 shares in the last quarter. Bellevue Asset Management LLC grew its holdings in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after buying an additional 45 shares in the last quarter. Finally, Cypress Capital Group increased its position in shares of Tesla by 1.7% during the second quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after buying an additional 47 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were 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 in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Royal Bank of Canada decreased their price target on shares of Tesla from $227.00 to $224.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Mizuho lifted their price objective on Tesla from $180.00 to $230.00 and gave the company a “neutral” rating in a research note on Friday, July 12th. Truist Financial restated a “hold” rating and issued a $215.00 target price on shares of Tesla in a research note on Wednesday, August 14th. Finally, Robert W. Baird reissued an “outperform” rating and set a $280.00 price objective on shares of Tesla in a report on Tuesday, August 20th. Nine analysts have rated the stock with a sell rating, eighteen have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $204.21.

Tesla Stock Performance

Tesla stock opened at $210.73 on Friday. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $278.98. The firm has a market cap of $673.21 billion, a P/E ratio of 53.76, a P/E/G ratio of 5.80 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average of $224.47 and a 200-day moving average of $193.60.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the prior year, the business posted $0.78 earnings per share. Tesla’s quarterly revenue was up 2.3% compared to the same quarter last year. Sell-side analysts expect that Tesla, Inc. will post 1.75 EPS for the current year.

Tesla 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.