SilverOak Wealth Management LLC Acquires New Shares in Tesla, Inc. $TSLA

Key Points

• SilverOak Wealth Management LLC has acquired a new stake in Tesla, Inc., purchasing 876 shares valued at approximately $278,000 during the second quarter.
• In the first quarter, other institutional investors made substantial changes to their Tesla holdings, with Means Investment CO. Inc. increasing its stake by 37.7% to own over $5 million worth of shares.
• Tesla reported a net margin of 6.54% and revenue of $22.50 billion in its last quarterly earnings, falling short of analysts' expectations of $23.18 billion.

SilverOak Wealth Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 876 shares of the electric vehicle producer's stock, valued at approximately $278,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Means Investment CO. Inc. grew its stake in Tesla by 37.7% in the first 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 during the period. Siren L.L.C. acquired a new position in Tesla in the first quarter valued at about $2,332,000. Zuckerman Investment Group LLC grew its stake in Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after acquiring an additional 826 shares during the period. Keystone Global Partners LLC acquired a new position in Tesla in the first quarter valued at about $594,000. Finally, Strs Ohio acquired a new position in Tesla in the first quarter valued at about $205,495,000. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $439.31 on Friday. The stock has a 50 day moving average price of $387.54 and a 200 day moving average price of $333.25. Tesla, Inc. has a 52 week low of $212.11 and a 52 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. The stock has a market capitalization of $1.46 trillion, a PE ratio of 253.94, a price-to-earnings-growth ratio of 15.41 and a beta of 2.08.

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 net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the company posted $0.52 earnings per share. The business's revenue for the quarter was down 11.8% on a year-over-year basis. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TSLA. Stifel Nicolaus set a $483.00 target price on Tesla and gave the company a "buy" rating in a research note on Wednesday, October 8th. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. TD Cowen upped their price objective on Tesla from $374.00 to $509.00 and gave the stock a "buy" rating in a research report on Thursday, October 9th. JPMorgan Chase & Co. upped their price objective on Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Finally, Royal Bank Of Canada upped their price objective on Tesla from $325.00 to $500.00 and gave the stock an "outperform" rating in a research report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $363.54.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on 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 directly owned 697,031 shares of the company's stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company's stock.

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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