BCS Wealth Management Has $979,000 Holdings in Tesla, Inc. $TSLA

Key Points

• BCS Wealth Management increased its holdings in Tesla, Inc. by 159.5% during the 2nd quarter, resulting in a total value of $979,000 at the end of the reporting period.
• Analysts have mixed views on Tesla, with Mizuho raising their price target to $450.00 while Guggenheim issued a $175.00 target, leading to an average rating of "Hold".
• Company insiders sold a total of 208,606 shares worth approximately $77.36 million over the last ninety days, indicating potential concerns about the stock's future performance.

BCS Wealth Management grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 159.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,083 shares of the electric vehicle producer's stock after purchasing an additional 1,895 shares during the quarter. BCS Wealth Management's holdings in Tesla were worth $979,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC raised its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank lifted its stake in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC boosted its holdings in 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 buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla during the 1st quarter worth about $27,000. Finally, Chelsea Counsel Co. increased its stake in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent analyst reports. Mizuho lifted their price objective on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research note on Tuesday. Glj Research reissued a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Morgan Stanley restated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research report on Friday, September 5th. Guggenheim reissued a "sell" rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Finally, UBS Group reaffirmed a "sell" rating on shares of Tesla in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $326.74.

Tesla Trading Down 1.9%

Tesla stock opened at $425.85 on Wednesday. The stock has a 50-day simple moving average of $345.33 and a 200 day simple moving average of $310.67. The stock has a market capitalization of $1.42 trillion, a P/E ratio of 246.16, a PEG ratio of 15.15 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54.

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 (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the company earned $0.52 EPS. Tesla's quarterly revenue was down 11.8% on a year-over-year basis. Analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock valued at $77,360,462 over the last ninety days. 19.90% of the stock is currently owned by company insiders.

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.