Tesla, Inc. $TSLA Shares Acquired by RFG Advisory LLC

Key Points

• RFG Advisory LLC increased its holdings in Tesla by 15.3%, adding 2,097 shares, bringing their total investment to $5,015,000.
• Several other institutional investors also increased their stakes in Tesla, with Cherry Tree Wealth Management's holdings rising by 86.3% and Newton One Investments boosting theirs by 250.0%.
• Tesla's recent earnings report revealed a missed earnings target of $0.40 per share, compared to the expected $0.43, alongside a year-over-year revenue decline of 11.8%.

RFG Advisory LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,787 shares of the electric vehicle producer's stock after acquiring an additional 2,097 shares during the quarter. RFG Advisory LLC's holdings in Tesla were worth $5,015,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Cherry Tree Wealth Management LLC increased 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 buying an additional 44 shares during the last quarter. First PREMIER Bank increased its holdings in 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 buying an additional 42 shares during the last quarter. Newton One Investments LLC increased its holdings in 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 buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla in the first quarter valued at about $27,000. 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. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $429.24 on Wednesday. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The stock has a fifty day moving average of $380.91 and a 200-day moving average of $330.17. The company has a market capitalization of $1.43 trillion, a PE ratio of 248.12, a price-to-earnings-growth ratio of 15.71 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the previous year, the company earned $0.52 EPS. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on TSLA shares. TD Cowen upped their target price on Tesla from $374.00 to $509.00 and gave the company a "buy" rating in a report on Thursday, October 9th. Royal Bank Of Canada upped their target price on Tesla from $325.00 to $500.00 and gave the company an "outperform" rating in a report on Friday, October 10th. Mizuho upped their target price on Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a report on Tuesday, September 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $363.03.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on 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 transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the stock in a transaction on 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 transaction, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last three months. 19.90% of the stock is currently owned by insiders.

Tesla Company 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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