Moss Adams Wealth Advisors LLC Purchases 1,443 Shares of Tesla, Inc. $TSLA

Key Points

• Moss Adams Wealth Advisors LLC increased its stake in Tesla by 20.2%, acquiring an additional 1,443 shares during the second quarter, bringing its total holdings to 8,576 shares valued at $2.72 million.
• Several hedge funds have also boosted their investments in Tesla, including Cherry Tree Wealth Management and First PREMIER Bank, with institutional investors owning 66.20% of the company's stock.
• Insider sales were notable, with CFO Vaibhav Taneja and Director James R. Murdoch selling a combined total of 124,000 shares, reflecting a significant reduction in their ownership percentages.

Moss Adams Wealth Advisors LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,576 shares of the electric vehicle producer's stock after acquiring an additional 1,443 shares during the quarter. Moss Adams Wealth Advisors LLC's holdings in Tesla were worth $2,724,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC boosted its holdings 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 acquiring an additional 44 shares in the last quarter. First PREMIER Bank boosted its holdings in 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 in the last quarter. Newton One Investments LLC boosted its holdings 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 acquiring an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla in the first quarter worth $27,000. Finally, Chelsea Counsel Co. lifted its holdings in shares of 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 purchasing an additional 40 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were 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 of the company's stock, valued at approximately $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. Over the last three months, insiders sold 208,606 shares of company stock valued at $77,360,462. Insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TSLA. China Renaissance reaffirmed a "hold" rating and set a $349.00 price target on shares of Tesla in a report on Friday, July 25th. Robert W. Baird raised Tesla from a "neutral" rating to an "outperform" rating and upped their price target for the company from $320.00 to $548.00 in a report on Friday, September 19th. Stifel Nicolaus set a $440.00 price target on Tesla in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a research report on Friday. Finally, Baird R W upgraded Tesla from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $332.33.

Tesla Stock Performance

Shares of TSLA opened at $443.21 on Tuesday. 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 business has a 50-day simple moving average of $354.34 and a two-hundred day simple moving average of $316.75. The stock has a market cap of $1.47 trillion, a price-to-earnings ratio of 256.19, a PEG ratio of 15.36 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 released 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 business had revenue of $22.50 billion during 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 business's revenue was down 11.8% on a year-over-year basis. During the same period last year, the company earned $0.52 EPS. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla 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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