AdviceOne Advisory Services LLC Boosts Position in Tesla, Inc. $TSLA

Key Points

• AdviceOne Advisory Services LLC increased its stake in Tesla, Inc. by 7.4% during the second quarter, now holding 20,055 shares valued at around $6.37 million.
• Wall Street analysts have varied perspectives on Tesla, with price targets ranging from $175 to $600, reflecting a mix of buy, hold, and sell ratings.
• Tesla's shares recently opened at $413.49, with a market cap of $1.37 trillion, and a 5.1% drop noted in recent trading sessions.

AdviceOne Advisory Services LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,055 shares of the electric vehicle producer's stock after acquiring an additional 1,376 shares during the quarter. Tesla accounts for about 4.7% of AdviceOne Advisory Services LLC's portfolio, making the stock its 4th largest position. AdviceOne Advisory Services LLC's holdings in Tesla were worth $6,371,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Means Investment CO. Inc. grew its holdings in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Siren L.L.C. bought a new stake in shares of Tesla in the 1st quarter valued at $2,332,000. Zuckerman Investment Group LLC boosted its stake in shares of Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after purchasing an additional 826 shares during the last quarter. Keystone Global Partners LLC bought a new stake in shares of Tesla in the 1st quarter valued at $594,000. Finally, Strs Ohio bought a new stake in shares of Tesla in the 1st quarter valued at $205,495,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on TSLA shares. TD Cowen upped their price objective on shares of Tesla from $374.00 to $509.00 and gave the company a "buy" rating in a research note on Thursday. Wedbush upped their price objective on shares of Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. Guggenheim reaffirmed a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Canaccord Genuity Group upped their price objective on shares of Tesla from $333.00 to $490.00 and gave the company a "buy" rating in a research note on Tuesday, September 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and eight have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $354.67.

Tesla Stock Down 5.1%

Shares of NASDAQ TSLA opened at $413.49 on Monday. The firm has a market cap of $1.37 trillion, a PE ratio of 239.01, a P/E/G ratio of 14.92 and a beta of 2.08. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The company's fifty day simple moving average is $375.97 and its 200 day simple moving average is $328.28. 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 (NASDAQ:TSLA - Get Free Report) last released 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the business posted $0.52 earnings per share. The firm's quarterly revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $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. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company's stock.

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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