Tesla, Inc. $TSLA Shares Acquired by Patriot Financial Group Insurance Agency LLC

Key Points

• Patriot Financial Group Insurance Agency LLC increased its stake in Tesla, Inc. by 8.5%, acquiring a total of 15,229 shares valued at approximately $4.83 million.
• During the latest reporting period, Tesla's revenue fell by 11.8% year-over-year, with EPS of $0.40 missing the consensus estimate of $0.43.
• Insider trading reports indicate significant sales, with SVP Xiaotong Zhu selling 20,000 shares for $7.28 million and Director James R. Murdoch selling 60,000 shares for $25.36 million.

Patriot Financial Group Insurance Agency LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,229 shares of the electric vehicle producer's stock after purchasing an additional 1,198 shares during the period. Patriot Financial Group Insurance Agency LLC's holdings in Tesla were worth $4,838,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Cherry Tree Wealth Management LLC lifted its position in shares of 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 lifted its position in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC lifted its position in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the first quarter valued at $27,000. Finally, Chelsea Counsel Co. lifted its position in shares of 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 acquiring an additional 40 shares in 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 $429.83 on Friday. The firm has a market cap of $1.43 trillion, a PE ratio of 248.46, a price-to-earnings-growth ratio of 15.15 and a beta of 2.08. The business has a 50 day moving average price of $364.02 and a two-hundred day moving average price of $321.39. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its 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). The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla's revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.52 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Baird R W upgraded Tesla from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 19th. UBS Group reiterated a "sell" rating and set a $215.00 target price on shares of Tesla in a research report on Thursday. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, July 24th. CICC Research increased their target price on Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. Finally, HSBC upped their price target on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $343.43.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,606 shares of company stock valued at $77,360,462. Insiders own 19.90% of the company's stock.

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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