GenTrust LLC Buys 2,644 Shares of Tesla, Inc. $TSLA

Key Points

• GenTrust LLC increased its stake in Tesla by 10.6%, acquiring an additional 2,644 shares to own a total of 27,513 shares, valued at approximately $8.74 million.
• Recent insider activity includes SVP Xiaotong Zhu selling 20,000 shares for about $7.28 million and Director James R. Murdoch selling 60,000 shares for approximately $25.36 million, indicating a trend of insider selling as they reduced their ownership.
• Tesla's quarterly earnings report showed a revenue increase of 11.6% year-over-year, totaling $28.10 billion, with an earnings per share of $0.50 exceeding analysts' expectations.

GenTrust LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,513 shares of the electric vehicle producer's stock after acquiring an additional 2,644 shares during the period. GenTrust LLC's holdings in Tesla were worth $8,740,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the first quarter valued at approximately $27,000. Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% during the first 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 in the last quarter. Centennial Bank AR raised its stake in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after acquiring an additional 100 shares in the last quarter. LGT Financial Advisors LLC bought a new stake in shares of Tesla during the second quarter valued at approximately $29,000. Finally, Compass Wealth Management LLC raised its stake in Tesla by 360.0% in the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer's stock worth $30,000 after buying an additional 90 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction on 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 sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction on 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 sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last ninety days. 19.90% of the stock is currently owned by insiders.

Tesla Price Performance

NASDAQ TSLA opened at $448.98 on Friday. The firm has a market capitalization of $1.49 trillion, a P/E ratio of 299.32, a P/E/G ratio of 15.78 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The firm's fifty day simple moving average is $396.00 and its two-hundred day simple moving average is $338.45.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.72%. The business's quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Barclays reissued a "negative" rating and issued a $350.00 price objective (up previously from $275.00) on shares of Tesla in a research note on Thursday, October 16th. The Goldman Sachs Group boosted their price objective on shares of Tesla from $395.00 to $425.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. CICC Research boosted their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research note on Thursday, September 18th. Truist Financial boosted their price objective on shares of Tesla from $280.00 to $406.00 and gave the stock a "hold" rating in a research note on Thursday. Finally, Cantor Fitzgerald set a $510.00 price objective on shares of Tesla in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, twelve have assigned a Hold rating and eleven have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $380.97.

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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