Eagle Strategies LLC Buys 1,053 Shares of Tesla, Inc. $TSLA

Key Points

• Eagle Strategies LLC increased its stake in Tesla by 18.2%, purchasing an additional 1,053 shares and bringing its total holdings to 6,847 shares worth approximately $2.175 million.
• Tesla's stock has dipped 0.7%, trading at $435.54, with analysts projecting a future EPS of 2.56 for the fiscal year.
• Institutional investors own 66.20% of Tesla's stock, while insiders have sold 202,606 shares totaling nearly $75.6 million in the last three months.

Eagle Strategies LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,847 shares of the electric vehicle producer's stock after purchasing an additional 1,053 shares during the period. Eagle Strategies LLC's holdings in Tesla were worth $2,175,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cherry Tree Wealth Management LLC boosted its stake 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 purchasing an additional 44 shares in the last quarter. First PREMIER Bank lifted its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC lifted its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Tesla during the 1st quarter valued at about $27,000. Finally, Chelsea Counsel Co. lifted its position in Tesla by 59.7% during 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 period. Institutional investors own 66.20% of the company's stock.

Tesla Stock Down 0.7%

Shares of Tesla stock opened at $435.54 on Friday. The company has a 50-day simple moving average of $373.75 and a two-hundred day simple moving average of $326.64. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The stock has a market capitalization of $1.45 trillion, a PE ratio of 251.76, a price-to-earnings-growth ratio of 16.04 and a beta of 2.08. 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 (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company 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 firm earned $0.52 earnings per share. The business's revenue was down 11.8% compared to the same quarter last year. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TSLA shares. Glj Research reissued a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Dbs Bank lifted their price target on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Canaccord Genuity Group lifted their target price on shares of Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a report on Tuesday, September 30th. Finally, Piper Sandler lifted their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and an average target price of $349.37.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company's stock, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last three months. 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.

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