Insight Wealth Partners LLC Increases Holdings in Tesla, Inc. $TSLA

Insight Wealth Partners LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,239 shares of the electric vehicle producer’s stock after acquiring an additional 178 shares during the quarter. Insight Wealth Partners LLC’s holdings in Tesla were worth $711,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TSLA. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla during the 1st quarter worth approximately $27,000. Chelsea Counsel Co. lifted its stake in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares in the last quarter. Centennial Bank AR lifted its stake in Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. LGT Financial Advisors LLC purchased a new stake in Tesla in the 2nd quarter valued at approximately $29,000. Finally, Compass Wealth Management LLC lifted its stake in Tesla by 360.0% in the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. DZ Bank reaffirmed a “sell” rating on shares of Tesla in a research note on Thursday. UBS Group set a $247.00 target price on Tesla in a research note on Monday, October 6th. Canaccord Genuity Group reduced their price target on Tesla from $490.00 to $482.00 and set a “buy” rating on the stock in a research note on Thursday. Mizuho increased their price target on Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, China Renaissance increased their price target on Tesla from $349.00 to $380.00 and gave the stock a “hold” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $380.03.

Tesla Trading Down 3.4%

TSLA stock opened at $433.72 on Friday. The company has a market cap of $1.44 trillion, a price-to-earnings ratio of 289.15, a PEG ratio of 16.13 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $398.06 and a 200-day simple moving average of $339.92. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the prior year, the firm posted $0.72 EPS. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, equities research analysts expect that Tesla, Inc. will post 2.56 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.