Focus Partners Advisor Solutions LLC Has $8.65 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Focus Partners Advisor Solutions LLC increased its holdings in Tesla, Inc. by 15.2% during the 1st quarter, owning 33,373 shares valued at $8.65 million.
• Several hedge funds, including Acorn Wealth Advisors LLC and Capital Management Associates Inc, have also made slight increases in their Tesla stock holdings.
• Analysts have mixed opinions on Tesla's stock, with one stating a buy rating and a target price increase to $475, while others downgraded their ratings to hold or sell.

Focus Partners Advisor Solutions LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,373 shares of the electric vehicle producer's stock after purchasing an additional 4,393 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Tesla were worth $8,650,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the company. Acorn Wealth Advisors LLC lifted its position in shares of Tesla by 1.9% in the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after acquiring an additional 36 shares during the period. Solutions 4 Wealth Ltd lifted its position in shares of Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after acquiring an additional 36 shares during the period. Capital Management Associates Inc lifted its position in shares of Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after buying an additional 38 shares during the period. Graney & King LLC lifted its position in shares of Tesla by 18.4% during the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock worth $63,000 after buying an additional 38 shares during the period. Finally, Mraz Amerine & Associates Inc. lifted its position in shares of Tesla by 3.8% during the 1st quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer's stock worth $278,000 after buying an additional 39 shares during the period. Institutional investors own 66.20% of the company's stock.

Insider Activity

In other news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade 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 144,564 shares of company stock worth $49,746,070 over the last three months. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TSLA. Benchmark restated a "buy" rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Glj Research reaffirmed a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have issued a Hold rating and nine have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $303.31.

Tesla Stock Performance

TSLA stock opened at $333.87 on Monday. The business's 50-day moving average price is $323.59 and its two-hundred day moving average price is $302.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.08 trillion, a PE ratio of 192.99, a P/E/G ratio of 11.61 and a beta of 2.06. Tesla, Inc. has a 1-year low of $205.97 and a 1-year high of $488.54.

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 for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for 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 business's revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current 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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.