Riversedge Advisors LLC Buys 1,450 Shares of Tesla, Inc. $TSLA

Key Points

• Riversedge Advisors LLC increased its stake in Tesla by 125.9% during the second quarter, acquiring an additional 1,450 shares, bringing its total holdings to 2,602 shares valued at approximately $827,000.
• Tesla's recent quarterly earnings report revealed an EPS of $0.40, missing estimates, with revenue of $22.50 billion, which was down 11.8% compared to the previous year.
• Insider trading activity included Director James R. Murdoch selling 120,000 shares for over $42 million, indicating notable shifts in ownership among company executives.

Riversedge Advisors LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 125.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,602 shares of the electric vehicle producer's stock after purchasing an additional 1,450 shares during the quarter. Riversedge Advisors LLC's holdings in Tesla were worth $827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Acorn Wealth Advisors LLC boosted its position in shares of Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after acquiring an additional 36 shares during the period. Solutions 4 Wealth Ltd boosted its position in shares of Tesla by 2.0% in the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock valued at $470,000 after acquiring an additional 36 shares during the period. ACT Wealth Management LLC boosted its position in shares of Tesla by 0.7% in the second quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer's stock valued at $1,717,000 after acquiring an additional 36 shares during the period. Capital Management Associates Inc boosted its position in shares of Tesla by 3.4% in the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock valued at $302,000 after acquiring an additional 38 shares during the period. Finally, Graney & King LLC boosted its position in shares of Tesla by 18.4% in the first quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock valued at $63,000 after acquiring an additional 38 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 3.6%

TSLA stock opened at $410.04 on Tuesday. The company has a market capitalization of $1.32 trillion, a PE ratio of 237.02, a price-to-earnings-growth ratio of 13.81 and a beta of 2.06. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company's 50 day moving average price is $331.21 and its two-hundred day moving average price is $304.53. 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 posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's revenue was down 11.8% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla 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 transaction, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,606 shares of company stock valued at $51,999,662. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on TSLA. The Goldman Sachs Group restated a "neutral" rating on shares of Tesla in a research report on Sunday, August 17th. William Blair restated a "market perform" rating on shares of Tesla in a research report on Friday, September 5th. Canaccord Genuity Group raised their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Finally, Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $303.00.

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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