IronOak Wealth LLC. Takes Position in Tesla, Inc. $TSLA

Key Points

• IronOak Wealth LLC has acquired a new position in Tesla, purchasing 4,585 shares valued at approximately $1.46 million.
• Tesla's recent earnings report revealed an EPS of $0.40, missing analysts' estimates and showing an 11.8% year-over-year revenue decrease.
• Insiders have sold over 208,000 shares totaling $77 million in the last 90 days, with one director reducing their stake by 8.61% after selling 60,000 shares.

IronOak Wealth LLC. purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,585 shares of the electric vehicle producer's stock, valued at approximately $1,456,000.

Other hedge funds have also recently bought and sold shares of the company. Foster Group Inc. raised its holdings in Tesla by 14.7% in the 2nd quarter. Foster Group Inc. now owns 7,142 shares of the electric vehicle producer's stock valued at $2,269,000 after acquiring an additional 916 shares in the last quarter. Acropolis Investment Management LLC grew its holdings in Tesla by 24.0% during the second quarter. Acropolis Investment Management LLC now owns 3,614 shares of the electric vehicle producer's stock valued at $1,148,000 after purchasing an additional 699 shares during the period. Sentinel Pension Advisors LLC purchased a new stake in shares of Tesla during the second quarter worth $249,000. Financial Harvest LLC bought a new position in Tesla in the second quarter valued at $377,000. Finally, Armstrong Advisory Group Inc. grew its stake in shares of Tesla by 10.6% during the second quarter. Armstrong Advisory Group Inc. now owns 783 shares of the electric vehicle producer's stock valued at $249,000 after buying an additional 75 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 2.2%

TSLA opened at $426.07 on Monday. 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 business has a 50 day moving average of $340.68 and a 200-day moving average of $308.67. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The stock has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 246.28, a P/E/G ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company 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%.Tesla's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock worth $77,360,462 in the last 90 days. Corporate insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TSLA. China Renaissance reiterated a "hold" rating and set a $349.00 target price on shares of Tesla in a report on Friday, July 25th. HSBC reiterated a "reduce" rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Canaccord Genuity Group increased their price target on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Benchmark reiterated a "buy" rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, UBS Group set a $290.00 target price on shares of Tesla in a research note on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and an average price target of $317.70.

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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