Keystone Wealth Services LLC Acquires 888 Shares of Tesla, Inc. $TSLA

Key Points

• Keystone Wealth Services LLC increased its stake in Tesla by 12.9% during the second quarter, acquiring an additional 888 shares, bringing its total ownership to 7,798 shares worth approximately $2.48 million.
• Institutional investors currently hold 66.20% of Tesla's stock, and notable increases in share holdings were reported by firms such as Vanguard and Goldman Sachs.
• Tesla reported a miss on earnings for the last quarter, with EPS of $0.40, falling short of the expected $0.43, while revenue also declined by 11.8% year-over-year.

Keystone Wealth Services LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,798 shares of the electric vehicle producer's stock after buying an additional 888 shares during the period. Keystone Wealth Services LLC's holdings in Tesla were worth $2,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Tesla by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock worth $9,908,828,000 after purchasing an additional 158,697 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after purchasing an additional 849,091 shares during the period. Finally, Amundi increased its stake in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,606 shares of company stock valued at $51,999,662. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Up 2.8%

Shares of TSLA stock opened at $421.62 on Wednesday. The firm has a market capitalization of $1.36 trillion, a P/E ratio of 243.71, a P/E/G ratio of 14.30 and a beta of 2.06. 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 stock's fifty day simple moving average is $333.69 and its 200 day simple moving average is $305.35.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 firm 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 company's revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TSLA. Canaccord Genuity Group increased their target price on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Benchmark reaffirmed a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Stifel Nicolaus set a $440.00 target price on Tesla in a report on Friday, September 5th. Bank of America boosted their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research report on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $303.00.

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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