CBIZ Investment Advisory Services LLC Increases Position in Tesla, Inc. $TSLA

CBIZ Investment Advisory Services LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 147.3% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,024 shares of the electric vehicle producer’s stock after buying an additional 610 shares during the period. CBIZ Investment Advisory Services LLC’s holdings in Tesla were worth $265,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Hodges Capital Management Inc. increased its stake in shares of Tesla by 58.8% during the first quarter. Hodges Capital Management Inc. now owns 3,178 shares of the electric vehicle producer’s stock worth $824,000 after acquiring an additional 1,177 shares during the period. Integrity Wealth Advisors Inc. increased its stake in shares of Tesla by 37.0% during the first quarter. Integrity Wealth Advisors Inc. now owns 2,802 shares of the electric vehicle producer’s stock worth $726,000 after acquiring an additional 757 shares during the period. Modern Wealth Management LLC increased its stake in shares of Tesla by 58.6% during the first quarter. Modern Wealth Management LLC now owns 15,043 shares of the electric vehicle producer’s stock worth $3,898,000 after acquiring an additional 5,557 shares during the period. Nova Wealth Management Inc. grew its position in Tesla by 92.5% during the first quarter. Nova Wealth Management Inc. now owns 1,199 shares of the electric vehicle producer’s stock worth $311,000 after buying an additional 576 shares during the period. Finally, Jones Financial Companies Lllp grew its position in Tesla by 55.3% during the first quarter. Jones Financial Companies Lllp now owns 239,337 shares of the electric vehicle producer’s stock worth $63,064,000 after buying an additional 85,208 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,606 shares of company stock valued at $44,724,662 over the last ninety days. 20.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TSLA. Morgan Stanley restated an “overweight” rating and set a $410.00 target price on shares of Tesla in a research report on Friday, September 5th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Argus restated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Robert W. Baird restated a “neutral” rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Finally, Royal Bank Of Canada restated an “overweight” rating on shares of Tesla in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $303.00.

Tesla Trading Up 6.0%

Shares of TSLA stock opened at $368.81 on Friday. The company has a market capitalization of $1.19 trillion, a price-to-earnings ratio of 213.18, a PEG ratio of 12.13 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $327.25 and a 200 day moving average price of $302.84. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 earnings per share 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.