Leo Wealth LLC Boosts Position in Tesla, Inc. $TSLA

Key Points

• Leo Wealth LLC increased its stake in Tesla, Inc. by 64.8% during the second quarter, owning 6,628 shares valued at $2.1 million.
• Several institutional investors also boosted their positions in Tesla, with 66.20% of the company's stock currently held by hedge funds and other institutional investors.
• Tesla reported quarterly earnings with a missed EPS estimate of $0.40, compared to the expected $0.43, alongside a revenue decline of 11.8% year-over-year.

Leo Wealth LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 64.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,628 shares of the electric vehicle producer's stock after purchasing an additional 2,607 shares during the quarter. Leo Wealth LLC's holdings in Tesla were worth $2,106,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC raised its holdings 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 worth $25,000 after acquiring 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 acquiring an additional 42 shares during the last quarter. Newton One Investments LLC raised its holdings 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 worth $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla in the first quarter worth $27,000. Finally, Chelsea Counsel Co. raised its holdings in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $413.49 on Friday. The firm has a market capitalization of $1.37 trillion, a PE ratio of 239.01, a P/E/G ratio of 15.81 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The business has a 50-day moving average of $375.97 and a two-hundred day moving average of $327.51. Tesla, Inc. has a 12 month low of $212.11 and a 12 month 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 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business's revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last three months. 19.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TSLA. CICC Research boosted their price target on Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a report on Thursday, September 18th. William Blair reiterated a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Glj Research reiterated a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Finally, Guggenheim reiterated a "sell" rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $354.67.

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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