PUREfi Wealth LLC Buys Shares of 851 Tesla, Inc. $TSLA

Key Points

• PUREfi Wealth LLC has acquired 851 shares of Tesla, Inc., valued at approximately $270,000, during the second quarter.
• Director James R. Murdoch sold 120,000 shares for over $42 million, representing a 14.69% decrease in his ownership, while the CFO also sold shares, indicating notable insider selling.
• Tesla's quarterly earnings report revealed a miss on earnings per share with a figure of $0.40, below the expected $0.43, and a revenue decline of 11.8% year-over-year.

PUREfi Wealth LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 851 shares of the electric vehicle producer's stock, valued at approximately $270,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Means Investment CO. Inc. boosted its position in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after acquiring an additional 6,323 shares in the last quarter. Focus Financial Network Inc. lifted its holdings in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares during the last quarter. Siren L.L.C. purchased a new stake in shares of Tesla during the 1st quarter valued at $2,332,000. Zuckerman Investment Group LLC lifted its holdings in shares of Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after purchasing an additional 826 shares during the last quarter. Finally, Keystone Global Partners LLC purchased a new stake in shares of Tesla during the 1st quarter valued at $594,000. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The stock was 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 owned 697,031 shares in the company, 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 is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA opened at $453.25 on Tuesday. The stock has a 50-day simple moving average of $366.57 and a two-hundred day simple moving average of $324.02. The firm has a market capitalization of $1.51 trillion, a P/E ratio of 261.99, a PEG ratio of 14.93 and a beta of 2.08. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

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 company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the subject of several analyst reports. Argus reiterated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Robert W. Baird upgraded Tesla from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $320.00 to $548.00 in a report on Friday, September 19th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Weiss Ratings reiterated a "hold (c)" rating on shares of Tesla in a report on Saturday, September 27th. Finally, Morgan Stanley restated an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $344.40.

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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