Cypress Point Wealth Management LLC Invests $231,000 in Tesla, Inc. $TSLA

Key Points

• Cypress Point Wealth Management LLC has acquired a new stake in Tesla, purchasing 726 shares valued at approximately $231,000 during the second quarter.
• Insider transactions show significant sales, with CFO Vaibhav Taneja and SVP Xiaotong Zhu selling 2,606 and 20,000 shares, respectively, indicating a 20.91% and 29.59% decrease in their holdings.
• Wall Street analysts provide a mixed review of Tesla, with a target price increase from $300 to $395 by Goldman Sachs, while the average rating remains a "Hold" with a target price of $310.79.

Cypress Point Wealth Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 726 shares of the electric vehicle producer's stock, valued at approximately $231,000.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $346,000. Highview Capital Management LLC DE purchased a new stake in shares of Tesla during the fourth quarter valued at approximately $2,367,000. Finally, Bison Wealth LLC lifted its stake in Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after acquiring an additional 3,558 shares during the period. Institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on TSLA. Dbs Bank increased their price objective on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Guggenheim reissued a "sell" rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Robert W. Baird raised Tesla from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $320.00 to $548.00 in a research report on Friday. Benchmark reissued a "buy" rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, Piper Sandler lifted their target price on Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have issued a Hold rating and nine have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $324.53.

Tesla Trading Up 1.9%

TSLA traded up $8.14 during trading hours on Monday, reaching $434.21. 96,526,944 shares of the company's stock traded hands, compared to its average volume of 86,280,128. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The firm has a market capitalization of $1.44 trillion, a PE ratio of 250.99, a PEG ratio of 14.86 and a beta of 2.06. The firm has a 50-day moving average price of $343.03 and a 200 day moving average price of $309.87. 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 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 company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's revenue was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 over the last quarter. 19.90% of the stock is currently owned by corporate insiders.

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.