Kerntke Otto McGlone Wealth Management Group Buys Shares of 771 Tesla, Inc. $TSLA

Key Points

• Kerntke Otto McGlone Wealth Management Group acquired 771 shares of Tesla, Inc. for approximately $245,000 during the second quarter, as disclosed in their recent SEC filing.
• Insider transactions included Director James R. Murdoch selling 120,000 shares for over $42 million, while CFO Vaibhav Taneja sold 4,000 shares, indicating significant insider shifts in ownership.
• Tesla's stock has a current market capitalization of $1.46 trillion and has been forecasted to post 2.56 earnings per share for the current fiscal year, despite revenue for the last quarter decreasing by 11.8% compared to the previous year.

Kerntke Otto McGlone Wealth Management Group bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 771 shares of the electric vehicle producer's stock, valued at approximately $245,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC grew its position in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank grew its position in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the first quarter valued at about $27,000. Newton One Investments LLC grew its position in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Finally, Chelsea Counsel Co. grew its position in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,735,080.36. This trade represents a 40.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 208,606 shares of company stock worth $77,360,462. Insiders own 19.90% of the company's stock.

Tesla Stock Up 4.0%

NASDAQ TSLA opened at $440.40 on Friday. 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 stock's 50 day moving average is $352.05 and its two-hundred day moving average is $314.42. The company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 254.57, a PEG ratio of 14.77 and a beta of 2.06. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

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). The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TSLA. HSBC reissued a "reduce" rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. Morgan Stanley reissued an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Friday, September 5th. CICC Research lifted their target price on Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, William Blair reissued a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $332.33.

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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