698 Shares in Tesla, Inc. $TSLA Acquired by BankPlus Wealth Management LLC

Key Points

• BankPlus Wealth Management LLC acquired 698 shares of Tesla, Inc. valued at approximately $222,000 in the second quarter, marking a significant investment from the firm.
• Insider trading activity includes the sale of 60,000 shares by Director James R. Murdoch, reducing his position by 8.61% and raising concerns about insider confidence.
• Several analysts reaffirmed their ratings on Tesla stock, with price targets ranging from $305.00 to $395.00 and an average target price of $332.33 indicating mixed market sentiments.

BankPlus Wealth Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 698 shares of the electric vehicle producer's stock, valued at approximately $222,000.

Several other hedge funds have also added to or reduced their stakes in TSLA. Brighton Jones LLC lifted its holdings in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. 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 worth $4,187,000 after purchasing an additional 3,558 shares during the last quarter. Park National Corp OH lifted its holdings in Tesla by 5.7% during the 1st quarter. Park National Corp OH now owns 2,086 shares of the electric vehicle producer's stock worth $541,000 after purchasing an additional 113 shares during the last quarter. Finally, Hiley Hunt Wealth Management acquired a new position in Tesla in the 1st quarter valued at $243,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, 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 transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business'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 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 position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock worth $77,360,462 in the last 90 days. Insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TSLA shares. Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday, June 9th. Bank of America lifted their price objective on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. China Renaissance reaffirmed a "hold" rating and issued a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Royal Bank Of Canada reaffirmed a "buy" rating on shares of Tesla in a report on Friday. Finally, The Goldman Sachs Group lifted their price objective on Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a report on Thursday, September 18th. Two equities 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 given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $332.33.

Tesla Trading Up 4.0%

Shares of TSLA stock opened at $440.40 on Friday. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 254.57, a P/E/G ratio of 14.77 and a beta of 2.06. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. 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 stock's fifty day simple moving average is $352.05 and its 200 day simple moving average is $314.42.

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

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.