Tesla, Inc. $TSLA Position Boosted by Signal Advisors Wealth LLC

Key Points

• Signal Advisors Wealth LLC increased its holdings in Tesla, Inc. by 19.4%, now owning 17,673 shares worth approximately $5.6 million.
• A significant portion of Tesla's stock, 66.20%, is owned by institutional investors and hedge funds, reflecting an increasing interest in the company.
• Insider sales included James R. Murdoch selling 120,000 shares, indicating a 14.69% decrease in his position in the company.

Signal Advisors Wealth LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,673 shares of the electric vehicle producer's stock after buying an additional 2,866 shares during the quarter. Signal Advisors Wealth LLC's holdings in Tesla were worth $5,614,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after buying an additional 849,091 shares in the last quarter. Amundi grew its position in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after purchasing an additional 2,211,300 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Analyst Ratings Changes

TSLA has been the subject of a number of research reports. UBS Group set a $290.00 price objective on shares of Tesla in a report on Monday, June 30th. Wedbush reaffirmed an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a report on Monday, September 15th. Dbs Bank lifted their price objective on shares of Tesla from $300.00 to $450.00 in a report on Wednesday. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a report on Friday, September 5th. Finally, Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $317.70.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,606 shares of company stock valued at $77,360,462. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

Tesla stock traded up $9.22 during midday trading on Friday, hitting $426.07. The company's stock had a trading volume of 92,721,496 shares, compared to its average volume of 86,324,392. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock's 50-day moving average price is $340.68 and its 200-day moving average price is $308.35. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a market capitalization of $1.42 trillion, a PE ratio of 246.28, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the firm posted $0.52 earnings per share. Tesla's revenue was down 11.8% compared to the same quarter last year. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.