Tesla, Inc. $TSLA Shares Acquired by Activest Wealth Management

Key Points

• Activest Wealth Management increased its Tesla holdings by 10% in Q2, bringing its total to 11,120 shares valued at approximately $3.53 million.
• Tesla's stock is currently priced at $428.75, down 1.5%, with a market capitalization of $1.43 trillion and a 12-month high of $488.54.
• In a recent earnings report, Tesla missed analysts' expectations with earnings per share of $0.40 and a revenue of $22.50 billion, a decline of 11.8% compared to the previous year.

Activest Wealth Management boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,120 shares of the electric vehicle producer's stock after acquiring an additional 1,007 shares during the period. Tesla accounts for about 0.9% of Activest Wealth Management's portfolio, making the stock its 15th largest holding. Activest Wealth Management's holdings in Tesla were worth $3,532,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Werba Rubin Papier Wealth Management lifted its holdings in Tesla by 15.0% in the second quarter. Werba Rubin Papier Wealth Management now owns 5,969 shares of the electric vehicle producer's stock valued at $1,896,000 after acquiring an additional 778 shares during the last quarter. Latitude Advisors LLC lifted its holdings in Tesla by 4.2% in the second quarter. Latitude Advisors LLC now owns 2,085 shares of the electric vehicle producer's stock valued at $662,000 after acquiring an additional 84 shares during the last quarter. Horst & Graben Wealth Management LLC lifted its holdings in Tesla by 1.7% in the second quarter. Horst & Graben Wealth Management LLC now owns 17,381 shares of the electric vehicle producer's stock valued at $5,521,000 after acquiring an additional 284 shares during the last quarter. Omnia Family Wealth LLC lifted its holdings in Tesla by 20.3% in the second quarter. Omnia Family Wealth LLC now owns 3,908 shares of the electric vehicle producer's stock valued at $1,241,000 after acquiring an additional 660 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Tesla in the second quarter valued at approximately $2,487,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 1.5%

Tesla stock opened at $428.75 on Friday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock's fifty day simple moving average is $385.34 and its 200-day simple moving average is $332.07. 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 firm has a market capitalization of $1.43 trillion, a P/E ratio of 247.83, a P/E/G ratio of 15.64 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm's revenue was down 11.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TSLA shares. Glj Research reiterated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Dbs Bank upped their price target on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Baird R W upgraded Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Mizuho upped their price target on Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a research note on Tuesday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a research note on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $363.54.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.