Strategic Planning Group LLC Has $17.09 Million Stake in Tesla, Inc. $TSLA

Key Points

• Strategic Planning Group LLC increased its stake in Tesla by 31.9% during the 2nd quarter, now owning 53,805 shares valued at approximately $17.1 million.
• Tesla's recent earnings report revealed an EPS of $0.40, missing expectations, with revenue down 11.8% year-over-year.
• Insider sales totaled over $77 million in the last 90 days, with significant transactions from both the SVP and CFO reducing their holdings in the company.

Strategic Planning Group LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 31.9% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,805 shares of the electric vehicle producer's stock after buying an additional 13,012 shares during the period. Tesla accounts for about 2.8% of Strategic Planning Group LLC's holdings, making the stock its 11th largest holding. Strategic Planning Group LLC's holdings in Tesla were worth $17,092,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Brighton Jones LLC raised its stake 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 buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. acquired a new position in shares of Tesla during the 4th quarter worth about $346,000. Bison Wealth LLC raised its holdings in Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock valued at $4,187,000 after acquiring an additional 3,558 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its position in shares of Tesla by 53.8% during the 4th quarter. Mackenzie Financial Corp now owns 429,860 shares of the electric vehicle producer's stock worth $173,595,000 after purchasing an additional 150,438 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $8.14 during midday trading on Monday, hitting $434.21. 96,526,944 shares of the company's stock were exchanged, compared to its average volume of 86,280,128. The company has a market cap of $1.44 trillion, a price-to-earnings ratio of 250.99, a PEG ratio of 14.86 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The business's fifty day moving average price is $343.03 and its two-hundred day moving average price is $309.87.

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 analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on TSLA shares. CICC Research lifted their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research note on Thursday. Piper Sandler boosted their price objective on shares of Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a research note on Monday. Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and increased their target price for the stock from $320.00 to $548.00 in a report on Friday. Bank of America raised their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 price objective on shares of Tesla in a research report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $324.53.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction on 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 $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock worth $77,360,462 over the last ninety days. Corporate 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.