Omnia Family Wealth LLC Boosts Stake in Tesla, Inc. $TSLA

Omnia Family Wealth LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 20.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,908 shares of the electric vehicle producer’s stock after buying an additional 660 shares during the period. Tesla accounts for about 0.4% of Omnia Family Wealth LLC’s investment portfolio, making the stock its 26th biggest position. Omnia Family Wealth LLC’s holdings in Tesla were worth $1,241,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC lifted its position in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank lifted its position 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 worth $25,000 after buying an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the first quarter worth about $27,000. Chelsea Counsel Co. raised its position in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Finally, Evergreen Private Wealth LLC raised its position in Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Down 1.5%

TSLA opened at $428.75 on Friday. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 247.83, a P/E/G ratio of 15.64 and a beta of 2.08. The stock’s 50 day moving average price is $385.34 and its 200-day moving average price is $332.07. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. HSBC upped their price objective on Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Canaccord Genuity Group upped their price objective on Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. The Goldman Sachs Group upped their price objective on Tesla from $395.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Piper Sandler upped their price objective on Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Finally, Barclays restated a “negative” rating and set a $350.00 price objective (up from $275.00) on shares of Tesla in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla has an average rating of “Hold” and an average price target of $363.54.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred 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 owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 over the last quarter. 19.90% of the stock is owned by corporate insiders.

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.