Fiduciary Alliance LLC Boosts Stake in Tesla, Inc. $TSLA

Key Points

• Fiduciary Alliance LLC has increased its stake in Tesla, Inc. by 33.5%, now holding a total of 26,307 shares valued at approximately $8.36 million as of their latest SEC filing.
• Tesla's stock has faced mixed analyst ratings, with a consensus "Hold" rating and a target price averaging around $303.00, indicating a caution among investors following recent earnings reports.
• Insider trading activity was significant, with Director James R. Murdoch selling 120,000 shares for over $42 million, reflecting a 14.69% reduction in his ownership.

Fiduciary Alliance LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 33.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,307 shares of the electric vehicle producer's stock after buying an additional 6,607 shares during the quarter. Fiduciary Alliance LLC's holdings in Tesla were worth $8,357,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Acorn Wealth Advisors LLC boosted its position in Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after purchasing an additional 36 shares in the last quarter. Solutions 4 Wealth Ltd boosted its position in Tesla by 2.0% during the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after purchasing an additional 36 shares in the last quarter. ACT Wealth Management LLC boosted its position in Tesla by 0.7% during the second quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer's stock worth $1,717,000 after purchasing an additional 36 shares in the last quarter. Capital Management Associates Inc boosted its position in Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after purchasing an additional 38 shares in the last quarter. Finally, Graney & King LLC boosted its position in Tesla by 18.4% during the first quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock worth $63,000 after purchasing an additional 38 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. Mizuho decreased their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. China Renaissance reissued a "hold" rating and issued a $349.00 price target on shares of Tesla in a report on Friday, July 25th. Piper Sandler reissued an "overweight" rating and issued a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Argus reissued a "hold" rating on shares of Tesla in a report on Monday, June 9th. Finally, HSBC reissued a "reduce" rating and issued a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the company's stock. According to MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus target price of $303.00.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated 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 completion of 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the 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 completion of the transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,606 shares of company stock valued at $51,999,662. Insiders own 20.70% of the company's stock.

Tesla Price Performance

TSLA stock opened at $421.62 on Wednesday. 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, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm has a market cap of $1.36 trillion, a P/E ratio of 243.71, a price-to-earnings-growth ratio of 14.30 and a beta of 2.06. The stock has a 50-day simple moving average of $333.69 and a 200-day simple moving average of $305.35.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results 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 net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the business posted $0.52 EPS. Tesla's quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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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