Legacy Solutions LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 670 shares of the electric vehicle producer's stock, valued at approximately $213,000.
Several other institutional investors and hedge funds also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC lifted its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank raised its holdings 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 worth $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC lifted its stake in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla during the 1st quarter valued at $27,000. Finally, Chelsea Counsel Co. grew its position in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, CFO Vaibhav Taneja sold 4,000 shares of the 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 sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction 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 $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is owned by corporate insiders.
Tesla Stock Performance
Shares of NASDAQ:TSLA opened at $442.79 on Thursday. The firm has a 50 day moving average of $347.75 and a 200 day moving average of $311.58. 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 company has a market capitalization of $1.47 trillion, a price-to-earnings ratio of 255.95, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54.
Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 earnings per share. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on TSLA. Glj Research reissued a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. HSBC reissued a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, July 3rd. China Renaissance reaffirmed a "hold" rating and set a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. William Blair reaffirmed a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Finally, Argus reissued a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Tesla presently has an average rating of "Hold" and an average price target of $326.74.
Check Out Our Latest Analysis on Tesla
Tesla Profile
(
Free Report)
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.
Further Reading
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