Integrity Wealth Advisors Inc. Boosts Holdings in Tesla, Inc. $TSLA

Key Points

• Integrity Wealth Advisors Inc. increased its holdings in Tesla, Inc. by 37% in Q1, owning 2,802 shares valued at approximately $726,000, which constitutes 0.5% of its investment portfolio.
• Analysts have set varying price targets for Tesla, with a consensus average target of $303.00, while some analysts maintain buy ratings with targets reaching up to $500.00.
• Tesla's recent quarterly earnings report showed a net revenue decline of 11.8% year-over-year, with earnings per share of $0.40, missing expectations by $0.03.

Integrity Wealth Advisors Inc. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 37.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,802 shares of the electric vehicle producer's stock after buying an additional 757 shares during the quarter. Tesla accounts for approximately 0.5% of Integrity Wealth Advisors Inc.'s investment portfolio, making the stock its 28th largest position. Integrity Wealth Advisors Inc.'s holdings in Tesla were worth $726,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Means Investment CO. Inc. boosted its stake in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after buying an additional 6,323 shares during the period. Focus Financial Network Inc. boosted its stake in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after buying an additional 670 shares during the period. Zuckerman Investment Group LLC boosted its stake in Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock worth $3,304,000 after buying an additional 826 shares during the period. Siren L.L.C. purchased a new position in Tesla during the first quarter worth $2,332,000. Finally, Keystone Global Partners LLC purchased a new position in Tesla during the first quarter worth $594,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on TSLA shares. UBS Group set a $290.00 price objective on shares of Tesla in a research note on Monday, June 30th. Benchmark reissued a "buy" rating and set a $475.00 target price (up from $350.00) on shares of Tesla in a research note on Thursday, June 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. Wedbush reissued an "outperform" rating and set a $500.00 target price on shares of Tesla in a research note on Monday, August 4th. Finally, Mizuho lowered their target price on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $303.00.

Tesla Stock Up 6.0%

NASDAQ:TSLA opened at $368.81 on Friday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a 50-day moving average of $327.25 and a 200 day moving average of $302.84. The firm has a market cap of $1.19 trillion, a PE ratio of 213.18, a price-to-earnings-growth ratio of 12.13 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 analysts' expectations of $23.18 billion. During the same period last year, the company earned $0.52 earnings per share. The firm's revenue was down 11.8% compared to the same quarter last year. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the sale, the director directly owned 697,031 shares of the company's stock, 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. Over the last ninety days, insiders sold 128,606 shares of company stock valued at $44,724,662. 20.70% of the stock is owned by insiders.

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.

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