Marshall & Sullivan Inc. WA Buys New Stake in Tesla, Inc. $TSLA

Key Points

• Marshall & Sullivan Inc. WA acquired 810 shares of Tesla, valued at approximately $257,000, during the 2nd quarter.
• Analysts have varying forecasts for Tesla, with several price targets ranging from $175.00 to $475.00, while the consensus rating is "Hold" with a target of $317.70.
• Insider sales include SVP Xiaotong Zhu offloading 20,000 shares for $7.3 million, resulting in a significant decrease in personal ownership of Tesla stock.

Marshall & Sullivan Inc. WA bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 810 shares of the electric vehicle producer's stock, valued at approximately $257,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC raised its stake in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. bought a new stake in Tesla during the fourth quarter worth about $346,000. Bison Wealth LLC boosted its position 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 buying an additional 3,558 shares during the period. Finally, Pinnacle Wealth Management LLC grew its stake in shares of Tesla by 1.0% in the 4th quarter. Pinnacle Wealth Management LLC now owns 9,263 shares of the electric vehicle producer's stock valued at $3,741,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Up 2.2%

Shares of TSLA traded up $9.22 during trading on Friday, reaching $426.07. The company's stock had a trading volume of 92,721,496 shares, compared to its average volume of 86,280,128. The company has a market cap of $1.42 trillion, a price-to-earnings ratio of 246.28, a P/E/G ratio of 14.86 and a beta of 2.06. The company has a fifty day moving average of $340.68 and a two-hundred day moving average of $308.35. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the company posted $0.52 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction 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 approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the firm's 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 transaction, the director owned 637,031 shares of the company's stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. UBS Group set a $290.00 price target on shares of Tesla in a report on Monday, June 30th. Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. William Blair reissued a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Guggenheim reissued a "sell" rating and issued a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Finally, Bank of America lifted 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. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $317.70.

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.