Tempus Wealth Planning LLC Has $4.99 Million Position in Tesla, Inc. $TSLA

Key Points

• Tempus Wealth Planning LLC increased its stake in Tesla by 10.8% during Q2, holding 15,717 shares valued at approximately $4.99 million.
• Several hedge funds strengthened their positions in Tesla, with Cherry Tree Wealth Management increasing its stake by 86.3% in Q1, while overall institutional ownership now stands at 66.20%.
• Despite a miss on earnings estimates and a year-over-year revenue decline of 11.8%, analysts maintain a generally positive outlook, with multiple firms issuing buy ratings and a price target increase to $333.00.

Tempus Wealth Planning LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,717 shares of the electric vehicle producer's stock after acquiring an additional 1,529 shares during the period. Tesla accounts for 1.2% of Tempus Wealth Planning LLC's investment portfolio, making the stock its 18th biggest holding. Tempus Wealth Planning LLC's holdings in Tesla were worth $4,993,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cherry Tree Wealth Management LLC lifted its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank increased its position in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC raised its holdings in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the 1st quarter worth about $27,000. Finally, Chelsea Counsel Co. increased its holdings in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TSLA has been the topic of several analyst reports. Canaccord Genuity Group increased their price target on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Royal Bank Of Canada restated a "buy" rating on shares of Tesla in a report on Friday. Robert W. Baird upgraded Tesla from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. William Blair restated a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $332.33.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 208,606 shares of company stock valued at $77,360,462. Company insiders own 19.90% of the company's stock.

Tesla Price Performance

Shares of TSLA stock opened at $440.40 on Monday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a market capitalization of $1.46 trillion, a P/E ratio of 254.57, a P/E/G ratio of 15.36 and a beta of 2.06. The stock has a 50 day moving average of $352.05 and a two-hundred day moving average of $315.40. 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 (NASDAQ:TSLA - Get Free Report) last released 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 firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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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