Stratos Wealth Partners LTD. Acquires 4,926 Shares of Tesla, Inc. $TSLA

Key Points

• Stratos Wealth Partners LTD. increased its stake in Tesla, Inc. by 5.7%, acquiring an additional 4,926 shares, bringing its total holdings to 91,690 shares valued at $29.1 million.
• Tesla's recent earnings report missed consensus estimates, with a quarterly earnings per share of $0.40 and revenue of $22.5 billion, down 11.8% year-over-year.
• 66.20% of Tesla's stock is owned by hedge funds and institutional investors, indicating strong interest from larger investment entities.

Stratos Wealth Partners LTD. increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.7% during the second quarter, according to its most recent filing with the SEC. The fund owned 91,690 shares of the electric vehicle producer's stock after buying an additional 4,926 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Tesla were worth $29,127,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Merchants Corp boosted its holdings in shares of Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer's stock worth $767,000 after buying an additional 31 shares during the last quarter. KWB Wealth lifted its holdings in Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock valued at $439,000 after purchasing an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. lifted its holdings in Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock valued at $310,000 after purchasing an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. lifted its holdings in Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock valued at $1,622,000 after purchasing an additional 34 shares during the last quarter. Finally, Acorn Creek Capital LLC lifted its holdings in Tesla by 1.6% during the second quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer's stock valued at $697,000 after purchasing an additional 34 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 2.5%

Shares of TSLA opened at $439.31 on Friday. The business's 50-day moving average price is $387.54 and its 200-day moving average price is $333.25. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock has a market cap of $1.46 trillion, a PE ratio of 253.94, a P/E/G ratio of 15.41 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company 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% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on TSLA shares. China Renaissance reaffirmed a "hold" rating and set a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, July 24th. William Blair reaffirmed a "market perform" rating on shares of Tesla in a report on Friday, September 5th. Evercore ISI upped their price objective on shares of Tesla from $235.00 to $300.00 and gave the company an "in-line" rating in a report on Monday, October 13th. Finally, Bank of America upped their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $363.54.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's 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 owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% 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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