Synergy Asset Management LLC Grows Holdings in Tesla, Inc. $TSLA

Synergy Asset Management LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 51.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,649 shares of the electric vehicle producer's stock after purchasing an additional 30,609 shares during the period. Tesla makes up about 3.3% of Synergy Asset Management LLC's investment portfolio, making the stock its 8th largest position. Synergy Asset Management LLC's holdings in Tesla were worth $28,478,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TSLA. Brighton Jones LLC increased 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 purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC increased its position in 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 purchasing an additional 931 shares during the last quarter. Bison Wealth LLC increased its position in Tesla by 52.2% in the fourth 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 last quarter. Hennion & Walsh Asset Management Inc. increased its position in Tesla by 3.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 4,605 shares of the electric vehicle producer's stock valued at $1,193,000 after acquiring an additional 165 shares during the last quarter. Finally, Vest Financial LLC increased its position in Tesla by 73.5% during the first quarter. Vest Financial LLC now owns 20,934 shares of the electric vehicle producer's stock valued at $5,425,000 after acquiring an additional 8,868 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock worth $77,360,462 in the last quarter. Corporate insiders own 19.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. HSBC boosted their price objective on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Royal Bank Of Canada reiterated a "buy" rating on shares of Tesla in a research report on Friday, September 26th. Dbs Bank boosted their price objective on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Wedbush boosted their price objective on shares of Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a research report on Friday, September 26th. Finally, UBS Group reissued a "sell" rating and set a $215.00 target price on shares of Tesla in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $343.43.

Tesla Trading Down 1.4%

Tesla stock opened at $429.83 on Friday. 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 stock's 50 day simple moving average is $364.02 and its two-hundred day simple moving average is $321.99. The firm has a market cap of $1.43 trillion, a PE ratio of 248.46, a P/E/G ratio of 14.93 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the prior year, the company posted $0.52 EPS. The company's revenue for the quarter was down 11.8% on a year-over-year basis. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla 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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