PKS Advisory Services LLC Purchases 875 Shares of Tesla, Inc. $TSLA

Key Points

• PKS Advisory Services LLC increased its stake in Tesla, Inc. by 46.8%, acquiring an additional 875 shares to hold a total of 2,745 shares valued at $718,000.
• Several hedge funds have significantly raised their positions in Tesla, with Cherry Tree Wealth Management increasing its stake by 86.3% and Newton One Investments growing by 250.0% in the first quarter.
• Analysts have a consensus rating of "Hold" for Tesla with an average target price of $303.31, despite recent earnings falling short of expectations.

PKS Advisory Services LLC raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 46.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,745 shares of the electric vehicle producer's stock after buying an additional 875 shares during the quarter. PKS Advisory Services LLC's holdings in Tesla were worth $718,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC raised its stake 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 valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank grew its position 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 valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC grew its position 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 valued at $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla in the first quarter valued at $27,000. Finally, True Wealth Design LLC grew its position in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Mizuho reduced their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Glj Research restated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Finally, William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have issued a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $303.31.

Tesla Trading Up 1.9%

NASDAQ TSLA opened at $346.60 on Tuesday. Tesla, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average of $321.62 and a 200-day moving average of $302.48. The firm has a market cap of $1.12 trillion, a PE ratio of 200.35, a price-to-earnings-growth ratio of 11.82 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the firm posted $0.52 EPS. The company's revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at $1,777,200. The trade was a 25.24% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,564 shares of company stock valued at $9,757,390. 20.70% of the stock is currently owned by corporate insiders.

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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