Falcon Wealth Planning Has $3.76 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Falcon Wealth Planning reduced its stake in Tesla, Inc. by 9.0% to $3.76 million, owning a total of 11,836 shares after selling 1,166 shares in the second quarter.
• Institutional ownership of Tesla stock stands at 66.20%, with several firms increasing their holdings significantly in the first quarter, including Cherry Tree Wealth Management, which grew its stake by 86.3%.
• Recent insider sales have seen significant transactions, including SVP Xiaotong Zhu selling 20,000 shares for $7.27 million and Director James R. Murdoch selling 120,000 shares for approximately $42 million.

Falcon Wealth Planning trimmed its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,836 shares of the electric vehicle producer's stock after selling 1,166 shares during the period. Falcon Wealth Planning's holdings in Tesla were worth $3,760,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TSLA. Cherry Tree Wealth Management LLC increased its holdings in Tesla by 86.3% in the first 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 during the period. First PREMIER Bank grew its holdings in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC grew its holdings in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Tesla during the 1st quarter worth about $27,000. Finally, Chelsea Counsel Co. grew its holdings in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 40 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction dated 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 owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the firm'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 completion of the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TSLA. Baird R W upgraded Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Morgan Stanley reiterated an "overweight" rating and set a $410.00 price target on shares of Tesla in a report on Friday, September 5th. Mizuho increased their price target on Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a report on Tuesday. Wedbush increased their price target on Tesla from $500.00 to $600.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $332.33.

Tesla Price Performance

TSLA stock opened at $440.40 on Friday. The stock has a market capitalization of $1.46 trillion, a PE ratio of 254.57, a price-to-earnings-growth ratio of 14.77 and a beta of 2.06. The company's 50-day moving average is $352.05 and its 200-day moving average is $314.42. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $212.11 and a 1 year 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 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 for the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the company earned $0.52 EPS. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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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