MBL Wealth LLC Has $4.18 Million Stock Position in Tesla, Inc. $TSLA

MBL Wealth LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 113.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,147 shares of the electric vehicle producer's stock after acquiring an additional 6,990 shares during the period. MBL Wealth LLC's holdings in Tesla were worth $4,176,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC lifted its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank grew its stake in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the 1st quarter worth approximately $27,000. Newton One Investments LLC boosted its position in 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 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 valued at $28,000 after buying an additional 40 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Trading Down 1.4%

Shares of NASDAQ TSLA opened at $429.83 on Monday. The business's 50 day moving average is $364.02 and its two-hundred day moving average is $322.58. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The stock has a market capitalization of $1.43 trillion, a P/E ratio of 248.46, a PEG ratio of 14.93 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.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the prior year, the company posted $0.52 EPS. The company's revenue was down 11.8% compared to the same quarter last year. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on TSLA shares. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. UBS Group reiterated a "sell" rating and set a $215.00 price target on shares of Tesla in a report on Thursday. Dbs Bank raised their target price on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Finally, China Renaissance reiterated a "hold" rating and set a $349.00 price target on shares of Tesla in a report on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $343.43.

Insider Transactions at Tesla

In other Tesla news, 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 sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 204,606 shares of company stock worth $76,188,902. Insiders own 19.90% of the company's stock.

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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