683 Shares in Tesla, Inc. $TSLA Acquired by Heartwood Wealth Advisors LLC

Key Points

• Heartwood Wealth Advisors LLC has acquired a new position in Tesla, purchasing 683 shares valued at approximately $217,000 during the second quarter.
• Multiple institutional investors have significantly increased their stakes in Tesla, with some like Cherry Tree Wealth Management and First PREMIER Bank growing their holdings by over 79% in the first quarter.
• Insider trading activity included Director James R. Murdoch selling 120,000 shares worth over $42 million, leading to a 14.69% decrease in his ownership of Tesla stock.

Heartwood Wealth Advisors LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 683 shares of the electric vehicle producer's stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC grew its holdings in 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 buying an additional 44 shares in the last quarter. First PREMIER Bank grew its holdings in Tesla by 79.2% in the 1st 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. Pacific Center for Financial Services boosted its stake in Tesla by 1,616.7% during the 4th quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer's stock valued at $42,000 after purchasing an additional 97 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla during the 1st quarter valued at $27,000. Finally, Newton One Investments LLC boosted its stake in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSLA. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Wedbush reaffirmed an "outperform" rating and set a $500.00 price target on shares of Tesla in a research note on Monday, August 4th. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 price target on shares of Tesla in a research note on Friday, September 5th. Finally, William Blair reaffirmed a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. One research 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 issued a Sell rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus price target of $303.00.

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction 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 sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The shares were 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. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,606 shares of company stock worth $51,999,662 over the last quarter. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Performance

TSLA opened at $395.94 on Monday. The firm has a market cap of $1.28 trillion, a PE ratio of 228.87, a P/E/G ratio of 13.81 and a beta of 2.06. 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 has a fifty day simple moving average of $328.89 and a 200-day simple moving average of $303.72. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 EPS. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS 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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