1,077 Shares in Tesla, Inc. $TSLA Purchased by Significant Wealth Partners LLC

Key Points

• Significant Wealth Partners LLC acquired 1,077 shares of Tesla, Inc. in the second quarter, valued at approximately $342,000.
• Several institutional investors have increased their stakes in Tesla, with notable increases including Brighton Jones LLC growing its position by 11.8% and Bison Wealth LLC boosting holdings by 52.2%.
• Insider trading activity revealed that SVP Xiaotong Zhu and Director James R. Murdoch sold a combined total of 80,000 shares, with significant decreases in their ownership percentages.

Significant Wealth Partners LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,077 shares of the electric vehicle producer's stock, valued at approximately $342,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC grew its position in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Mascagni Wealth Management Inc. bought a new position in shares of Tesla in the fourth quarter worth about $346,000. Bison Wealth LLC lifted its holdings in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after buying an additional 3,558 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its position in Tesla by 36.8% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 11,989 shares of the electric vehicle producer's stock valued at $4,842,000 after buying an additional 3,224 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other news, 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 value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 over the last three months. Corporate insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TSLA shares. William Blair reaffirmed a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. The Goldman Sachs Group raised their price objective on Tesla from $300.00 to $395.00 and gave the stock a "neutral" rating in a report on Thursday, September 18th. Bank of America upped their target price on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Argus restated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have issued a Sell rating to the company's stock. According to MarketBeat, Tesla presently has an average rating of "Hold" and a consensus target price of $326.74.

Tesla Price Performance

Shares of TSLA stock opened at $423.39 on Friday. The stock's 50-day moving average is $349.83 and its 200 day moving average is $312.97. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market cap of $1.41 trillion, a P/E ratio of 244.73, a PEG ratio of 15.45 and a beta of 2.06.

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

Tesla Company 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.

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