Tesla, Inc. $TSLA Holdings Lifted by Flaharty Asset Management LLC

Key Points

• Flaharty Asset Management LLC increased its stake in Tesla, Inc. by 136.1% during the first quarter, bringing their total holdings to 2,330 shares valued at approximately $604,000.
• Several Wall Street brokerages have issued price targets for Tesla shares, with estimates ranging from $290.00 to $440.00, reflecting overall bullish sentiment among analysts.
• Insider transactions revealed significant sales, including Director James R. Murdoch selling 120,000 shares for over $42 million, indicating a 14.69% reduction in his ownership stake.

Flaharty Asset Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 136.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,330 shares of the electric vehicle producer's stock after purchasing an additional 1,343 shares during the period. Flaharty Asset Management LLC's holdings in Tesla were worth $604,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Acorn Wealth Advisors LLC grew its position in shares of Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after buying an additional 36 shares during the period. Solutions 4 Wealth Ltd grew its position in shares of Tesla by 2.0% during the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after buying an additional 36 shares during the period. Capital Management Associates Inc grew its position in shares of Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after buying an additional 38 shares during the period. Graney & King LLC grew its position in shares of Tesla by 18.4% during the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer's stock worth $63,000 after buying an additional 38 shares during the period. Finally, Mraz Amerine & Associates Inc. grew its position in shares of Tesla by 3.8% during the 1st quarter. Mraz Amerine & Associates Inc. now owns 1,054 shares of the electric vehicle producer's stock worth $278,000 after buying an additional 39 shares during the period. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TSLA. Morgan Stanley reiterated an "overweight" rating and set a $410.00 price target on shares of Tesla in a research report on Friday. UBS Group set a $290.00 price objective on shares of Tesla in a report on Monday, June 30th. Piper Sandler restated an "overweight" rating and set a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Stifel Nicolaus set a $440.00 price objective on shares of Tesla in a report on Friday. Finally, Canaccord Genuity Group boosted their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $303.00.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction on 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 sale, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 143,606 shares of company stock valued at $49,581,812 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $346.97 on Wednesday. The company's fifty day simple moving average is $325.50 and its 200-day simple moving average is $302.26. 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 firm has a market cap of $1.12 trillion, a PE ratio of 200.56, a P/E/G ratio of 12.08 and a beta of 2.06. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business 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 business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal 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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