Tesla, Inc. $TSLA Shares Bought by RWA Wealth Partners LLC

Key Points

• RWA Wealth Partners LLC increased its holdings in Tesla, Inc. by 50.5%, acquiring a total of 19,266 shares valued at approximately $4.99 million.
• Currently, institutional investors own about 66.20% of Tesla's shares, with a diverse range of hedge funds modifying their positions recently.
• The average price target for Tesla's stock is $303.31, with mixed ratings from analysts including ten sell ratings and seventeen buy ratings.

RWA Wealth Partners LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 50.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,266 shares of the electric vehicle producer's stock after purchasing an additional 6,466 shares during the period. RWA Wealth Partners LLC's holdings in Tesla were worth $4,993,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in shares of Tesla during the fourth quarter worth about $56,600,000. Means Investment CO. Inc. grew its position in Tesla by 37.7% in the 1st 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. grew its position in Tesla by 3.1% in the 1st 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. IFM Investors Pty Ltd grew its position in Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after buying an additional 46,087 shares in the last quarter. Finally, Keystone Global Partners LLC bought a new position in Tesla in the 1st quarter valued at about $594,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TSLA. China Renaissance reiterated a "hold" rating and issued a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. Glj Research reiterated a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Canaccord Genuity Group raised their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, Barclays reduced their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Trading Up 1.4%

NASDAQ:TSLA opened at $335.16 on Tuesday. The stock's 50 day moving average price is $320.95 and its 200 day moving average price is $304.09. Tesla, Inc. has a 52 week low of $202.59 and a 52 week high of $488.54. The company has a market capitalization of $1.08 trillion, a P/E ratio of 193.73, a P/E/G ratio of 11.49 and a beta of 2.33. 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 quarterly earnings data 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 during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the company posted $0.52 EPS. The company's quarterly revenue was down 11.8% on a year-over-year basis. On average, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director owned 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 599,724 shares of company stock worth $213,126,501. 20.70% of the stock is currently owned by company 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.

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