Tesla, Inc. $TSLA Shares Bought by Aaron Wealth Advisors LLC

Key Points

• Aaron Wealth Advisors LLC increased its holdings in Tesla, Inc. by 8.4% during Q2, owning a total of 15,227 shares worth approximately $4.84 million.
• Tesla reported Q2 earnings of $0.40 EPS, missing estimates of $0.43, and had a revenue decline of 11.8% year-over-year to $22.5 billion.
• While the average rating for Tesla's stock is currently "Hold," analysts have set varying price targets, with some predicting a price as low as $175.00 and others as high as $500.00.

Aaron Wealth Advisors LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 15,227 shares of the electric vehicle producer's stock after acquiring an additional 1,180 shares during the quarter. Aaron Wealth Advisors LLC's holdings in Tesla were worth $4,837,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Means Investment CO. Inc. boosted its stake in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after buying an additional 6,323 shares in the last quarter. Focus Financial Network Inc. boosted its stake in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after buying an additional 670 shares in the last quarter. Siren L.L.C. purchased a new stake in shares of Tesla in the first quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC boosted its stake in shares of Tesla by 6.9% in the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after buying an additional 826 shares in the last quarter. Finally, Keystone Global Partners LLC purchased a new stake in shares of Tesla in the first quarter valued at approximately $594,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Up 2.8%

Shares of TSLA opened at $421.62 on Wednesday. The company has a market capitalization of $1.36 trillion, a P/E ratio of 243.71, a P/E/G ratio of 14.30 and a beta of 2.06. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a 50-day moving average price of $333.69 and a 200 day moving average price of $305.35.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the business earned $0.52 EPS. The company's quarterly revenue was down 11.8% on a year-over-year basis. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Guggenheim reaffirmed a "sell" rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Glj Research reaffirmed a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Wedbush reaffirmed an "outperform" rating and set a $500.00 price objective on shares of Tesla in a report on Monday. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $303.00.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,606 shares of company stock valued at $51,999,662. Insiders own 20.70% 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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