Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Alliance Wealth Advisors LLC UT

Key Points

• Alliance Wealth Advisors LLC UT increased its Tesla holdings by 32.1% in the first quarter, now owning 6,171 shares valued at approximately $1.6 million.
• Tesla reported a quarterly EPS of $0.40, falling short of the expected $0.43, while its revenue of $22.5 billion was down 11.8% year-over-year.
• Insider trading activity revealed significant sales, with SVP Xiaotong Zhu selling 15,000 shares and CFO Vaibhav Taneja selling 6,000 shares, indicating a 18.16% and 75.47% decrease in their respective holdings.

Alliance Wealth Advisors LLC UT grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 32.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,171 shares of the electric vehicle producer's stock after purchasing an additional 1,501 shares during the quarter. Alliance Wealth Advisors LLC UT's holdings in Tesla were worth $1,599,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Tocqueville Asset Management L.P. grew its holdings in shares of Tesla by 20.6% during the first quarter. Tocqueville Asset Management L.P. now owns 1,371 shares of the electric vehicle producer's stock worth $355,000 after buying an additional 234 shares during the last quarter. United Capital Management of KS Inc. lifted its position in shares of Tesla by 2.1% during the 1st quarter. United Capital Management of KS Inc. now owns 64,715 shares of the electric vehicle producer's stock valued at $16,772,000 after acquiring an additional 1,353 shares during the period. Thompson Davis & CO. Inc. increased its stake in shares of Tesla by 22.8% during the 1st quarter. Thompson Davis & CO. Inc. now owns 1,680 shares of the electric vehicle producer's stock worth $435,000 after purchasing an additional 312 shares in the last quarter. Redmond Asset Management LLC increased its stake in shares of Tesla by 1.3% during the 1st quarter. Redmond Asset Management LLC now owns 4,276 shares of the electric vehicle producer's stock worth $1,108,000 after purchasing an additional 56 shares in the last quarter. Finally, LWM Advisory Services LLC boosted its holdings in shares of Tesla by 16.5% during the first quarter. LWM Advisory Services LLC now owns 1,221 shares of the electric vehicle producer's stock worth $323,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Down 1.5%

TSLA stock opened at $330.56 on Friday. Tesla, Inc. has a 12-month low of $202.59 and a 12-month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.07 trillion, a price-to-earnings ratio of 191.08, a PEG ratio of 11.67 and a beta of 2.33. The company has a 50 day moving average of $320.41 and a two-hundred day moving average of $305.81.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the company earned $0.52 EPS. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer owned 1,950 shares in the company, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 599,724 shares of company stock worth $213,126,501. Company insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TSLA. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Wedbush restated an "outperform" rating and issued a $500.00 target price on shares of Tesla in a research note on Monday, August 4th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. China Renaissance reaffirmed a "hold" rating and set a $349.00 price objective on shares of Tesla in a research report on Friday, July 25th. Finally, Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a research report on Tuesday, July 29th. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $303.31.

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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