Magnolia Private Wealth LLC Buys 2,272 Shares of Tesla, Inc. $TSLA

Key Points

• Magnolia Private Wealth LLC increased its stake in Tesla by 198.3% in Q2, now holding a total of 3,418 shares valued at approximately $1,086,000.
• In the first quarter, several institutional investors, including Goldman Sachs and Vanguard Group, significantly boosted their holdings in Tesla, indicating strong institutional interest.
• Analysts have mixed opinions on Tesla, with a current average rating of "Hold" and a price target of $341.46, reflecting the volatile market conditions surrounding the company.

Magnolia Private Wealth LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 198.3% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 3,418 shares of the electric vehicle producer's stock after acquiring an additional 2,272 shares during the quarter. Tesla comprises about 0.8% of Magnolia Private Wealth LLC's portfolio, making the stock its 29th biggest holding. Magnolia Private Wealth LLC's holdings in Tesla were worth $1,086,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of TSLA. Vanguard Group Inc. grew its stake in 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 buying an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock valued at $4,710,218,000 after acquiring an additional 849,091 shares during the last quarter. Amundi raised its position in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Tesla by 17.6% during the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after purchasing an additional 2,211,300 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. China Renaissance reiterated a "hold" rating and issued a $349.00 price target on shares of Tesla in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft lifted their target price on Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a research report on Friday, September 26th. The Goldman Sachs Group increased their target price on shares of Tesla from $300.00 to $395.00 and gave the stock a "neutral" rating in a report on Thursday, September 18th. William Blair reaffirmed a "market perform" rating on shares of Tesla in a report on Friday, September 5th. Finally, Royal Bank Of Canada reissued a "buy" rating on shares of Tesla in a research note on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and eight have assigned a Sell rating to the company's stock. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and an average price target of $341.46.

Tesla Trading Down 5.1%

NASDAQ TSLA opened at $436.00 on Friday. The firm has a market capitalization of $1.45 trillion, a PE ratio of 252.02, a price-to-earnings-growth ratio of 15.97 and a beta of 2.08. The business's 50-day moving average price is $361.74 and its two-hundred day moving average price is $319.98. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. 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 posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 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 analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla's revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 transaction, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is currently owned by insiders.

Tesla Company 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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