795 Shares in Tesla, Inc. $TSLA Bought by Wealth Advisory Solutions LLC

Key Points

• Wealth Advisory Solutions LLC acquired 795 shares of Tesla, valued at approximately $253,000, marking an increase in institutional investment in the company.
• A variety of analysts have set new price targets for Tesla, with Bank of America increasing its target to $341 and Morgan Stanley assigning a price objective of $410.
• Tesla's recent quarterly earnings revealed a net margin decrease to 6.54% and earnings per share of $0.40, which was below analyst expectations.

Wealth Advisory Solutions LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 795 shares of the electric vehicle producer's stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cherry Tree Wealth Management LLC raised its holdings in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank raised its holdings in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC raised its holdings in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the first quarter worth about $27,000. Finally, Chelsea Counsel Co. lifted its position in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. Bank of America boosted their price target on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. China Renaissance reaffirmed a "hold" rating and issued a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, September 5th. Mizuho dropped their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Finally, Baird R W upgraded Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $324.53.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred 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 directly owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 in the last three months. Insiders own 19.90% of the company's stock.

Tesla Trading Up 1.9%

Shares of TSLA opened at $434.21 on Tuesday. The stock has a market cap of $1.44 trillion, a PE ratio of 250.99, a PEG ratio of 14.86 and a beta of 2.06. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The stock has a 50 day simple moving average of $343.03 and a 200-day simple moving average of $309.87. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

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 analysts' consensus estimates of $0.43 by ($0.03). The business 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 firm's revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. On average, 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.

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