Sound Income Strategies LLC Grows Position in Tesla, Inc. $TSLA

Key Points

• Sound Income Strategies LLC has increased its position in Tesla by 9.5%, owning a total of 19,450 shares valued at approximately $6.18 million as of the end of the most recent quarter.
• Several institutional investors have also significantly increased their holdings in Tesla, with Bison Wealth LLC leading with a 52.2% increase in the fourth quarter alone.
• Wall Street analysts are mixed on Tesla’s outlook, with two analysts rating it a Strong Buy, while others present a mix of Buy and Sell ratings, reflecting an average target price of $332.33.

Sound Income Strategies LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,450 shares of the electric vehicle producer's stock after purchasing an additional 1,695 shares during the period. Sound Income Strategies LLC's holdings in Tesla were worth $6,179,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TSLA. Brighton Jones LLC grew its position in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares during the period. Bison Wealth LLC boosted its holdings in shares of Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after purchasing an additional 3,558 shares during the period. Mechanics Bank Trust Department bought a new position in shares of Tesla during the 1st quarter valued at approximately $288,000. Finally, Mid American Wealth Advisory Group Inc. raised its holdings in Tesla by 94.4% during the 1st quarter. Mid American Wealth Advisory Group Inc. now owns 1,314 shares of the electric vehicle producer's stock valued at $341,000 after buying an additional 638 shares during the period. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a report on Friday. Mizuho raised their price objective on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 23rd. Guggenheim reaffirmed a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Finally, Dbs Bank increased their price target on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat.com, Tesla has an average rating of "Hold" and an average target price of $332.33.

Tesla Trading Up 0.6%

Shares of NASDAQ TSLA opened at $443.21 on Tuesday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The business has a fifty day moving average price of $354.34 and a 200 day moving average price of $316.75. The stock has a market capitalization of $1.47 trillion, a P/E ratio of 256.19, a price-to-earnings-growth ratio of 15.36 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

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

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction 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 sale, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,606 shares of company stock valued at $77,360,462. 19.90% of the stock is owned by insiders.

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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