Tesla, Inc. $TSLA Shares Acquired by Secure Asset Management LLC

Key Points

• Secure Asset Management LLC increased its Tesla holdings by 42.1%, acquiring an additional 6,083 shares during the second quarter, bringing its total to 20,526 shares worth approximately $6.52 million.
• Analysts are optimistic about Tesla's future, with target prices ranging from $300.00 to $500.00, and a consensus rating of "Hold" alongside an average price target of $307.46.
• Insider transactions reveal significant share sales, including Director James R. Murdoch's sale of 120,000 shares worth over $42 million, indicating a 14.69% decrease in his ownership position.

Secure Asset Management LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 42.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,526 shares of the electric vehicle producer's stock after acquiring an additional 6,083 shares during the period. Tesla accounts for approximately 1.2% of Secure Asset Management LLC's portfolio, making the stock its 17th largest holding. Secure Asset Management LLC's holdings in Tesla were worth $6,520,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Tesla by 4.3% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 377,841 shares of the electric vehicle producer's stock valued at $120,025,000 after purchasing an additional 15,603 shares in the last quarter. KMG Fiduciary Partners LLC grew its stake in shares of Tesla by 3.7% in the second quarter. KMG Fiduciary Partners LLC now owns 13,526 shares of the electric vehicle producer's stock worth $4,297,000 after purchasing an additional 480 shares during the last quarter. Signal Advisors Wealth LLC boosted its position in Tesla by 19.4% during the 2nd quarter. Signal Advisors Wealth LLC now owns 17,673 shares of the electric vehicle producer's stock valued at $5,614,000 after acquiring an additional 2,866 shares in the last quarter. Professional Financial Advisors LLC boosted its position in Tesla by 4.4% during the 2nd quarter. Professional Financial Advisors LLC now owns 2,250 shares of the electric vehicle producer's stock valued at $715,000 after acquiring an additional 94 shares in the last quarter. Finally, Jackson Square Capital LLC boosted its position in Tesla by 138.0% during the 2nd quarter. Jackson Square Capital LLC now owns 1,992 shares of the electric vehicle producer's stock valued at $633,000 after acquiring an additional 1,155 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Up 2.2%

NASDAQ TSLA traded up $9.22 during trading on Friday, hitting $426.07. The stock had a trading volume of 92,721,496 shares, compared to its average volume of 103,409,047. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a market capitalization of $1.37 trillion, a price-to-earnings ratio of 246.28, a P/E/G ratio of 14.86 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 stock has a 50 day simple moving average of $338.43 and a 200 day simple moving average of $307.09.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm's 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 transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,606 shares of company stock valued at $77,360,462. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TSLA shares. Glj Research reiterated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Robert W. Baird upgraded shares of Tesla from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $320.00 to $548.00 in a research note on Friday. Guggenheim restated a "sell" rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday, July 23rd. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Finally, HSBC reaffirmed a "reduce" rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, thirteen have given a Hold rating and nine have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $317.70.

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.