Revolve Wealth Partners LLC Acquires 737 Shares of Tesla, Inc. $TSLA

Key Points

• Revolve Wealth Partners LLC increased its Tesla holdings by 4.4% during the second quarter, owning 17,407 shares valued at approximately $5.53 million after adding 737 shares.
• Various institutional investors have also adjusted their positions in Tesla, with 66.20% of the stock currently owned by institutional investors.
• Tesla reported earnings of $0.40 per share for the last quarter, below analysts' expectations, with a 11.8% decline in revenue compared to the previous year.

Revolve Wealth Partners LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,407 shares of the electric vehicle producer's stock after buying an additional 737 shares during the quarter. Revolve Wealth Partners LLC's holdings in Tesla were worth $5,529,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TSLA. Means Investment CO. Inc. grew its position in shares of Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Siren L.L.C. bought a new position in Tesla in the 1st quarter worth approximately $2,332,000. Zuckerman Investment Group LLC boosted its stake in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock worth $3,304,000 after purchasing an additional 826 shares during the period. Keystone Global Partners LLC bought a new position in Tesla in the 1st quarter worth approximately $594,000. Finally, Strs Ohio bought a new position in Tesla in the 1st quarter worth approximately $205,495,000. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TSLA. Glj Research restated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. William Blair restated a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. Dbs Bank upped their target price on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Melius Research set a $520.00 target price on shares of Tesla and gave the stock a "buy" rating in a research report on Monday. Finally, Bank of America upped their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average price target of $363.03.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction dated 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 owned 697,031 shares of the company's stock, valued at $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 the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's 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 completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 in the last 90 days. Company insiders own 19.90% of the company's stock.

Tesla Price Performance

Tesla stock opened at $429.24 on Wednesday. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.12, a PEG ratio of 15.71 and a beta of 2.08. The firm's fifty day moving average is $380.91 and its 200 day moving average is $330.17. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. 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 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. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal 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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