Global Strategic Investment Solutions LLC Boosts Position in Tesla, Inc. $TSLA

Key Points

• Global Strategic Investment Solutions LLC significantly increased its holdings in Tesla, Inc. by 79.6% in the second quarter, now owning 2,162 shares valued at approximately $687,000.
• Analysts have mixed ratings for Tesla; Canaccord Genuity raised its price target to $490.00 giving a "buy" rating, while two analysts maintain a "Strong Buy" rating and many others hold or sell ratings.
• Recent insider selling activity includes the CFO and a director selling a combined total of over $26 million worth of Tesla shares, raising concerns about confidence in the stock.

Global Strategic Investment Solutions LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 79.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,162 shares of the electric vehicle producer's stock after acquiring an additional 958 shares during the quarter. Global Strategic Investment Solutions LLC's holdings in Tesla were worth $687,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. KWB Wealth lifted its holdings in Tesla by 2.4% in the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock worth $439,000 after buying an additional 33 shares during the period. Conrad Siegel Investment Advisors Inc. raised its position in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock worth $310,000 after acquiring an additional 34 shares in the last quarter. Guyasuta Investment Advisors Inc. lifted its stake in shares of Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock valued at $1,622,000 after purchasing an additional 34 shares during the period. Kelly Financial Services LLC boosted its position in shares of Tesla by 2.7% during the second quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer's stock valued at $423,000 after purchasing an additional 35 shares in the last quarter. Finally, Acorn Wealth Advisors LLC grew its stake in Tesla by 1.9% in 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 during the period. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on TSLA shares. Canaccord Genuity Group boosted their target price on shares of Tesla from $333.00 to $490.00 and gave the company a "buy" rating in a report on Tuesday, September 30th. Glj Research reissued a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Argus reaffirmed a "hold" rating on shares of Tesla in a research note on Monday, June 9th. China Renaissance reissued a "hold" rating and issued a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Finally, Dbs Bank upped their price target on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average target price of $344.40.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $453.25 on Tuesday. The firm has a market cap of $1.51 trillion, a P/E ratio of 261.99, a PEG ratio of 14.93 and a beta of 2.08. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $366.57 and a 200 day moving average of $324.02.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $23.18 billion. During the same period in the previous year, the business posted $0.52 EPS. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla 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 completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by corporate insiders.

Tesla 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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