Ashton Thomas Private Wealth LLC Buys 2,768 Shares of Tesla, Inc. $TSLA

Key Points

• Ashton Thomas Private Wealth LLC increased its stake in Tesla by 25.7%, acquiring an additional 2,768 shares, bringing its total holdings to 13,524 shares valued at approximately $3.5 million.
• Several institutional investors, including Means Investment CO. Inc. and IFM Investors Pty Ltd, have also significantly increased their positions in Tesla during the first quarter.
• Tesla's stock is facing varying analyst ratings, with an average rating of "Hold" and a consensus target price of $303, despite recent earnings reports indicating a drop in revenue compared to the previous year.

Ashton Thomas Private Wealth LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,524 shares of the electric vehicle producer's stock after purchasing an additional 2,768 shares during the period. Ashton Thomas Private Wealth LLC's holdings in Tesla were worth $3,505,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Means Investment CO. Inc. raised its position in shares of Tesla by 37.7% during the first 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. Focus Financial Network Inc. raised its holdings in Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after purchasing an additional 670 shares during the last quarter. Zuckerman Investment Group LLC lifted its position in Tesla by 6.9% during 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 period. Keystone Global Partners LLC bought a new position in shares of Tesla in the 1st quarter valued at about $594,000. Finally, IFM Investors Pty Ltd grew its position in shares of Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after buying an additional 46,087 shares during the period. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TSLA. Piper Sandler restated an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research note on Sunday, August 17th. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Robert W. Baird reissued a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Finally, Bank of America boosted their target price on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $303.00.

Tesla Trading Down 1.3%

NASDAQ TSLA opened at $346.40 on Tuesday. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market cap of $1.12 trillion, a P/E ratio of 200.23, a P/E/G ratio of 12.24 and a beta of 2.06. The stock's 50-day moving average is $324.57 and its 200-day moving average is $301.95.

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 (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion during 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 for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related 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 transaction of $42,034,800.00. Following the sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 141,000 shares of company stock worth $48,663,510 over the last ninety days. Company insiders own 20.70% of the company's stock.

Tesla 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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