Tesla, Inc. $TSLA Shares Bought by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 28.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 20,780 shares of the electric vehicle producer’s stock after acquiring an additional 4,626 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Tesla were worth $6,601,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC raised its holdings in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its holdings in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla during the 1st quarter valued at $27,000. Newton One Investments LLC boosted its stake in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Finally, Chelsea Counsel Co. grew its holdings in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 1.4%

Shares of TSLA stock opened at $429.83 on Monday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a market cap of $1.43 trillion, a PE ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $364.02 and its two-hundred day moving average is $322.58.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TSLA. Stifel Nicolaus set a $440.00 price target on Tesla in a research report on Friday, September 5th. China Renaissance reiterated a “hold” rating and issued a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Morgan Stanley restated an “overweight” rating and set a $410.00 price target on shares of Tesla in a report on Thursday. Royal Bank Of Canada restated a “buy” rating on shares of Tesla in a research report on Friday, September 26th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $343.43.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 204,606 shares of company stock worth $76,188,902. Company insiders own 19.90% of the company’s stock.

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.