GK Wealth Management LLC Has $2.73 Million Stake in Tesla, Inc. $TSLA

Key Points

• GK Wealth Management LLC increased its holdings in Tesla, Inc. by 13.1%, now owning a total of 10,542 shares valued at approximately $2,732,000.
• Tesla reported revenues of $22.50 billion for the last quarter, missing analyst estimates and down 11.8% from the previous year.
• Insider activity includes Director James R. Murdoch selling 120,000 shares valued at over $42 million, representing a 14.69% reduction in his stake.

GK Wealth Management LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,542 shares of the electric vehicle producer's stock after buying an additional 1,223 shares during the quarter. Tesla comprises about 3.2% of GK Wealth Management LLC's holdings, making the stock its 7th largest position. GK Wealth Management LLC's holdings in Tesla were worth $2,732,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Brighton Jones LLC boosted its holdings in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC increased its position in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the period. Mascagni Wealth Management Inc. acquired a new position in Tesla during the 4th quarter worth approximately $346,000. Highview Capital Management LLC DE acquired a new position in Tesla during the 4th quarter worth approximately $2,367,000. Finally, Bison Wealth LLC increased its position in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after purchasing an additional 3,558 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on TSLA. Guggenheim reiterated a "sell" rating and set a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Bank of America boosted their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. William Blair reiterated a "market perform" rating on shares of Tesla in a report on Friday, September 5th. Benchmark reissued a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, UBS Group set a $290.00 price objective on shares of Tesla in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $303.00.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of 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 link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company's stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,606 shares of company stock valued at $51,999,662 over the last three months. 20.70% of the stock is owned by insiders.

Tesla Stock Up 5.3%

Shares of NASDAQ:TSLA traded up $20.97 during trading on Monday, hitting $416.91. The company's stock had a trading volume of 96,901,964 shares, compared to its average volume of 103,122,805. 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 fifty-two week low of $212.11 and a fifty-two week high of $488.54. The stock's 50-day moving average price is $328.89 and its two-hundred day moving average price is $303.72. The company has a market capitalization of $1.34 trillion, a PE ratio of 242.18, a PEG ratio of 13.81 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the firm posted $0.52 EPS. The company's revenue was down 11.8% compared to the same quarter last year. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS 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.