Kaufman Rossin Wealth LLC Takes $209,000 Position in Tesla, Inc. $TSLA

Key Points

• Kaufman Rossin Wealth LLC has acquired 659 shares of Tesla, Inc. valued at approximately $209,000 in the second quarter, indicating a growing interest in the electric vehicle company's stock.
• A variety of institutional investors have also increased their stakes in Tesla, with notable increases from Cherry Tree Wealth Management and First PREMIER Bank, reflecting a trend of positive sentiment towards the company.
• Despite missing earnings expectations for the last quarter, Tesla's stock has seen an upward movement of 2.2% recently, currently trading at approximately $426.07.

Kaufman Rossin Wealth LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 659 shares of the electric vehicle producer's stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Brighton Jones LLC grew its stake in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings 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 valued at $2,147,000 after buying an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Tesla during the fourth quarter worth $346,000. Bison Wealth LLC raised its position in shares of Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after buying an additional 3,558 shares during the period. Finally, Retirement Planning Group LLC raised its position in Tesla by 19.3% in the fourth quarter. Retirement Planning Group LLC now owns 1,660 shares of the electric vehicle producer's stock valued at $670,000 after purchasing an additional 268 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction dated 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 sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated 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 sold a total of 208,606 shares of company stock worth $77,360,462 over the last three months. 19.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on TSLA shares. Wedbush reaffirmed an "outperform" rating and set a $500.00 price target on shares of Tesla in a report on Monday, September 15th. Bank of America boosted their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. The Goldman Sachs Group upped their target price on shares of Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a research note on Thursday, September 18th. Stifel Nicolaus set a $440.00 price target on shares of Tesla in a research note on Friday, September 5th. Finally, Piper Sandler increased their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the company's stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus target price of $326.74.

Tesla Price Performance

TSLA stock traded down $7.03 during trading on Tuesday, reaching $427.18. 62,623,596 shares of the company were exchanged, compared to its average volume of 103,129,625. The company has a 50-day moving average of $343.03 and a two-hundred day moving average of $309.87. 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, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a market capitalization of $1.42 trillion, a price-to-earnings ratio of 246.97, 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 the consensus estimate 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%.The firm's revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.