Tesla, Inc. $TSLA is QTR Family Wealth LLC's 8th Largest Position

Key Points

• QTR Family Wealth LLC increased its stake in Tesla by 51.0%, owning 14,537 shares, making Tesla its 8th largest position, valued at approximately $4.62 million.
• Insider activity showed that CFO Vaibhav Taneja and SVP Xiaotong Zhu sold a combined total of over $8 million in Tesla shares recently, reflecting a significant decrease in their ownership.
• Several analysts have raised Tesla's price targets, with Wedbush increasing theirs from $500 to $600 and noting a consensus rating of "Hold" with an average target price of $341.46.

QTR Family Wealth LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 51.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,537 shares of the electric vehicle producer's stock after purchasing an additional 4,913 shares during the period. Tesla comprises 2.9% of QTR Family Wealth LLC's investment portfolio, making the stock its 8th biggest position. QTR Family Wealth LLC's holdings in Tesla were worth $4,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company's stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock valued at $77,360,462 over the last quarter. Corporate insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. CICC Research upped their price target on Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a report on Thursday, September 18th. Wedbush increased their price target on shares of Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a research note on Friday, September 26th. HSBC boosted their price objective on shares of Tesla from $120.00 to $127.00 in a research report on Monday. Finally, Canaccord Genuity Group lifted their price target on shares of Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a research note on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus target price of $341.46.

Tesla Trading Down 5.1%

Shares of TSLA stock opened at $436.00 on Friday. The company has a market capitalization of $1.45 trillion, a P/E ratio of 252.02, a price-to-earnings-growth ratio of 15.97 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The business's 50 day moving average is $361.74 and its two-hundred day moving average is $319.98. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the business earned $0.52 earnings per share. Tesla's revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

About Tesla

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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