Tesla, Inc. $TSLA Shares Acquired by waypoint wealth counsel

Key Points

• Waypoint Wealth Counsel increased its holdings in Tesla, Inc. by 30.2% during the 2nd quarter, bringing its total to 2,709 shares valued at approximately $861,000.
• Several institutional investors raised their positions in Tesla during the same period, with GFS Advisors LLC increasing its stake by 23.4%, owning over 65,000 shares worth about $20.8 million.
• Tesla's recent earnings report revealed an EPS of $0.40, falling short of analysts’ expectations, while the company's revenue of $22.5 billion also missed estimates by about $700 million.

waypoint wealth counsel lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 30.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,709 shares of the electric vehicle producer's stock after acquiring an additional 629 shares during the period. waypoint wealth counsel's holdings in Tesla were worth $861,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Investment Advisory Group LLC raised its position in shares of Tesla by 1.6% during the 2nd quarter. Investment Advisory Group LLC now owns 6,039 shares of the electric vehicle producer's stock worth $1,918,000 after acquiring an additional 98 shares in the last quarter. AdviceOne Advisory Services LLC raised its position in shares of Tesla by 7.4% during the 2nd quarter. AdviceOne Advisory Services LLC now owns 20,055 shares of the electric vehicle producer's stock worth $6,371,000 after acquiring an additional 1,376 shares in the last quarter. GFS Advisors LLC raised its position in shares of Tesla by 23.4% during the 2nd quarter. GFS Advisors LLC now owns 65,564 shares of the electric vehicle producer's stock worth $20,827,000 after acquiring an additional 12,428 shares in the last quarter. Apollon Financial LLC raised its position in shares of Tesla by 5.6% during the 2nd quarter. Apollon Financial LLC now owns 1,702 shares of the electric vehicle producer's stock worth $541,000 after acquiring an additional 90 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC raised its position in shares of Tesla by 2.3% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 48,972 shares of the electric vehicle producer's stock worth $15,556,000 after acquiring an additional 1,087 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Down 5.1%

NASDAQ:TSLA opened at $413.49 on Monday. The firm has a market cap of $1.37 trillion, a P/E ratio of 239.01, a PEG ratio of 14.92 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 stock's 50 day simple moving average is $375.97 and its 200-day simple moving average is $328.28. 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 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). The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. 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. Company insiders own 19.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Benchmark reissued a "buy" rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Piper Sandler lifted their price target on Tesla from $400.00 to $500.00 and gave the stock an "overweight" rating in a research report on Monday, September 22nd. Dbs Bank lifted their price target on Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft lifted their price target on Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a research report on Friday, September 26th. Finally, China Renaissance reaffirmed a "hold" rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $354.67.

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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