Clarus Wealth Advisors Grows Stock Holdings in Tesla, Inc. $TSLA

Key Points

• Clarus Wealth Advisors increased its stake in Tesla, Inc. by 16.7% in the second quarter, now holding 5,454 shares valued at approximately $1.62 million.
• Analysts have varied ratings on Tesla, with a consensus rating of "Hold" and an average target price of $303.00.
• Tesla reported a miss on earnings for the last quarter, with adjusted earnings of $0.40 per share compared to estimates of $0.43, alongside revenues of $22.50 billion.

Clarus Wealth Advisors lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 16.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,454 shares of the electric vehicle producer's stock after buying an additional 780 shares during the quarter. Clarus Wealth Advisors' holdings in Tesla were worth $1,624,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TSLA. Brighton Jones LLC lifted its stake in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in Tesla in the 4th quarter valued at $346,000. Highview Capital Management LLC DE bought a new stake in Tesla in the 4th quarter valued at $2,367,000. Finally, Bison Wealth LLC increased its holdings in Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after acquiring an additional 3,558 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on TSLA shares. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Guggenheim reiterated a "sell" rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Finally, Argus restated a "hold" rating on shares of Tesla in a report on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average target price of $303.00.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $410.04 on Tuesday. The company has a market capitalization of $1.32 trillion, a price-to-earnings ratio of 237.02, a PEG ratio of 13.81 and a beta of 2.06. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The firm's 50-day moving average is $331.21 and its 200 day moving average is $304.53. 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 issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for 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 business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 earnings per share. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the company's 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 transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,606 shares of company stock worth $51,999,662. Insiders own 20.70% 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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