Capital Asset Advisory Services LLC Buys 1,340 Shares of Tesla, Inc. $TSLA

Key Points

• Capital Asset Advisory Services LLC boosted its Tesla stake by 7.2%, acquiring an additional 1,340 shares, bringing its total to 19,917 shares valued at approximately $5,989,000.
• Several institutional investors, including Wesbanco Bank Inc. and Verde Capital Management, also increased their Tesla holdings in the second quarter, indicating a trend of growing institutional interest in the stock.
• Tesla's shares recently traded at $395.94, with analysts offering mixed ratings and price targets, including a decrease from "strong-buy" to "hold" by Baird R W and a "sell" target of $175.00 by Guggenheim.

Capital Asset Advisory Services LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,917 shares of the electric vehicle producer's stock after purchasing an additional 1,340 shares during the quarter. Capital Asset Advisory Services LLC's holdings in Tesla were worth $5,989,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Wesbanco Bank Inc. lifted its holdings in Tesla by 2.1% in the second quarter. Wesbanco Bank Inc. now owns 57,147 shares of the electric vehicle producer's stock valued at $18,153,000 after buying an additional 1,159 shares during the period. Verde Capital Management lifted its holdings in Tesla by 5.4% in the second quarter. Verde Capital Management now owns 21,953 shares of the electric vehicle producer's stock valued at $6,974,000 after buying an additional 1,134 shares during the period. Kings Path Partners LLC lifted its holdings in Tesla by 263.6% in the second quarter. Kings Path Partners LLC now owns 4,000 shares of the electric vehicle producer's stock valued at $1,271,000 after buying an additional 2,900 shares during the period. Whitaker Myers Wealth Managers LTD. lifted its holdings in Tesla by 37.1% in the second quarter. Whitaker Myers Wealth Managers LTD. now owns 3,718 shares of the electric vehicle producer's stock valued at $1,181,000 after buying an additional 1,007 shares during the period. Finally, Somerset Trust Co lifted its holdings in Tesla by 26.9% in the second quarter. Somerset Trust Co now owns 4,675 shares of the electric vehicle producer's stock valued at $1,485,000 after buying an additional 992 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Guggenheim reiterated a "sell" rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. William Blair reiterated a "market perform" rating on shares of Tesla in a report on Friday, September 5th. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 target price on shares of Tesla in a report on Friday, September 5th. Finally, Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of "Hold" and an average price target of $303.00.

Tesla Stock Up 7.4%

Tesla stock opened at $395.94 on Friday. The company has a market cap of $1.28 trillion, a P/E ratio of 228.87, a price-to-earnings-growth ratio of 12.87 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 company has a fifty day simple moving average of $328.89 and a 200 day simple moving average of $303.57. 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 earnings results 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). The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,735,080.36. This trade represents a 40.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated 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 completion of 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 position. The disclosure for this sale can be found here. Insiders sold a total of 148,606 shares of company stock valued at $51,999,662 in the last quarter. 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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