Perigon Wealth Management LLC Acquires 8,834 Shares of Tesla, Inc. $TSLA

Perigon Wealth Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 90,462 shares of the electric vehicle producer's stock after purchasing an additional 8,834 shares during the period. Perigon Wealth Management LLC's holdings in Tesla were worth $26,879,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its position in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in Tesla during the fourth quarter valued at about $346,000. Bison Wealth LLC boosted its position in Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after purchasing an additional 3,558 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC raised its holdings in Tesla by 36.8% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 11,989 shares of the electric vehicle producer's stock worth $4,842,000 after purchasing an additional 3,224 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TSLA. Piper Sandler raised their price target on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a report on Monday. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. CICC Research upped their price target on Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. HSBC reiterated a "reduce" rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. Finally, Stifel Nicolaus set a $440.00 target price on Tesla in a research note on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $326.74.

Tesla Stock Performance

Shares of TSLA stock opened at $423.39 on Friday. The business has a fifty day moving average of $349.83 and a 200 day moving average of $312.97. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. 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 firm has a market capitalization of $1.41 trillion, a price-to-earnings ratio of 244.73, a price-to-earnings-growth ratio of 15.45 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly 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 for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the previous year, the firm posted $0.52 EPS. The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla 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 sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,606 shares of company stock worth $77,360,462. 19.90% of the stock is owned by company insiders.

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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