Strategies Wealth Advisors LLC Invests $877,000 in Tesla, Inc. $TSLA

Key Points

• Strategies Wealth Advisors LLC has invested approximately $877,000 in Tesla, acquiring 3,383 shares in the first quarter.
• Tesla's stock is currently experiencing a downturn, down 1.2%, with a market capitalization of $1.03 trillion and recent earnings that missed expectations.
• Insider trading disclosure shows significant early June and July stock sales by key executives, with insiders selling 599,724 shares over the last three months.

Strategies Wealth Advisors LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,383 shares of the electric vehicle producer's stock, valued at approximately $877,000.

A number of other large investors also recently made changes to their positions in the company. Rinkey Investments raised its position in Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after purchasing an additional 29 shares in the last quarter. True Wealth Design LLC raised its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Acorn Wealth Advisors LLC raised its position in Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after purchasing an additional 36 shares in the last quarter. Solutions 4 Wealth Ltd raised its position in Tesla by 2.0% during the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock valued at $470,000 after purchasing an additional 36 shares in the last quarter. Finally, Capital Management Associates Inc raised its position in Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock valued at $302,000 after purchasing an additional 38 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Down 1.2%

NASDAQ TSLA opened at $320.11 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market capitalization of $1.03 trillion, a PE ratio of 185.03, a PEG ratio of 11.26 and a beta of 2.33. Tesla, Inc. has a 1 year low of $202.59 and a 1 year high of $488.54. The business's 50-day moving average is $320.98 and its 200 day moving average is $303.96.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results 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 business 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research reports. Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. HSBC reaffirmed a "reduce" rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Piper Sandler reiterated an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Finally, Canaccord Genuity Group lifted their price objective on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have assigned a Hold rating and nine have assigned a Sell rating to the company's stock. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus target price of $303.31.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 599,724 shares of company stock valued at $213,126,501 over the last three months. Company insiders own 20.70% of the company's stock.

About Tesla

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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