Fluent Financial LLC Makes New $249,000 Investment in Tesla, Inc. $TSLA

Key Points

• Fluent Financial LLC has made a new investment in Tesla, Inc. by acquiring 784 shares valued at approximately $249,000 in the second quarter, highlighting institutional interest in the electric vehicle maker.
• Tesla's stock opened at $435.54, with the company facing a decline of 0.7% recently, despite having a market capitalization of $1.45 trillion and reported earnings per share of $0.40 for the last quarter.
• Significant insider trading occurred, including the sale of 20,000 shares by SVP Xiaotong Zhu for $7.27 million and 60,000 shares by Director James R. Murdoch for $25.36 million, indicating possible shifts in insider confidence.

Fluent Financial LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 784 shares of the electric vehicle producer's stock, valued at approximately $249,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC lifted its position 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 acquiring an additional 44 shares during the last quarter. First PREMIER Bank lifted its position in shares of 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 last quarter. Newton One Investments LLC lifted its position in shares of 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 last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla during the 1st quarter valued at $27,000. Finally, Chelsea Counsel Co. raised its stake 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 purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Down 0.7%

Tesla stock opened at $435.54 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 251.76, a PEG ratio of 16.04 and a beta of 2.08. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company's fifty day moving average price is $373.75 and its two-hundred day moving average price is $326.64.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly 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 firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the company earned $0.52 earnings per share. The firm's revenue was down 11.8% on a year-over-year basis. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The shares were 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 approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. Company insiders own 19.90% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. China Renaissance reissued a "hold" rating and set a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Piper Sandler boosted their target price on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research note on Monday, September 22nd. Royal Bank Of Canada reissued a "buy" rating on shares of Tesla in a research note on Friday, September 26th. Guggenheim reissued a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Finally, TD Cowen boosted their target price on shares of Tesla from $374.00 to $509.00 and gave the company a "buy" rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus price target of $349.37.

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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