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

Key Points

• Flagship Wealth Advisors LLC increased its Tesla holdings by 181.8%, acquiring an additional 2,000 shares in the first quarter, bringing its total to 3,100 shares valued at approximately $803,000.
• Tesla reported earnings per share of $0.40 for the last quarter, which fell short of analysts' expectations of $0.43, reflecting a year-over-year revenue decline of 11.8%.
• Analysts have mixed opinions on Tesla's stock, with a consensus price target of $303.31, while ratings range from strong buy to sell among ten analysts.

Flagship Wealth Advisors LLC raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 181.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,100 shares of the electric vehicle producer's stock after buying an additional 2,000 shares during the period. Flagship Wealth Advisors LLC's holdings in Tesla were worth $803,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC raised its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank boosted its holdings in Tesla by 79.2% in the 1st 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 increased its stake in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla during the first quarter valued at approximately $27,000. Finally, True Wealth Design LLC boosted its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $322.27 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 company has a market cap of $1.04 trillion, a price-to-earnings ratio of 186.28, a price-to-earnings-growth ratio of 11.24 and a beta of 2.33. The stock's 50-day moving average is $319.07 and its two-hundred day moving average is $308.84. Tesla, Inc. has a 1-year low of $192.04 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The firm's quarterly revenue was down 11.8% on a year-over-year basis. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on TSLA. HSBC reissued a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the company a "buy" rating in a research report on Thursday, April 24th. BNP Paribas set a $137.00 price target on shares of Tesla and gave the stock an "underperform" rating in a research report on Wednesday, April 16th. Wedbush reiterated an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a report on Monday. Finally, Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus price target of $303.31.

Insider Activity

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 602,724 shares of company stock valued at $214,176,831. 20.70% of the stock is currently owned by company insiders.

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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