Tesla, Inc. $TSLA Shares Bought by Surience Private Wealth LLC

Key Points

• Surience Private Wealth LLC increased its stake in Tesla by 536.6%, owning 9,581 shares valued at approximately $3.04 million as of the latest SEC filing.
• Tesla's recent quarterly earnings showed earnings per share of $0.40, missing expectations, with revenue of $22.50 billion, reflecting a 11.8% decline year-over-year.
• Several brokerage firms have revised their price targets for Tesla, with Mizuho raising it to $450, while Goldman Sachs increased it to $395, maintaining a neutral rating.

Surience Private Wealth LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 536.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,581 shares of the electric vehicle producer's stock after acquiring an additional 8,076 shares during the quarter. Tesla accounts for about 2.9% of Surience Private Wealth LLC's holdings, making the stock its 14th biggest position. Surience Private Wealth LLC's holdings in Tesla were worth $3,044,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC lifted its holdings 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 purchasing an additional 44 shares in the last quarter. First PREMIER Bank raised its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the 1st quarter valued at approximately $27,000. Newton One Investments LLC grew its holdings in Tesla by 250.0% during the 1st 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. Finally, Chelsea Counsel Co. increased its position in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Tesla stock opened at $423.39 on Friday. Tesla, Inc. has a 1 year low of $212.11 and a 1 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 firm has a 50 day moving average price of $349.83 and a 200 day moving average price of $312.97. The company has a market cap of $1.41 trillion, a price-to-earnings ratio of 244.73, a PEG ratio of 15.45 and a beta of 2.06.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TSLA. Mizuho upped their price objective on Tesla from $375.00 to $450.00 and gave the company an "outperform" rating in a research report on Tuesday. Royal Bank Of Canada restated an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. UBS Group reaffirmed a "sell" rating on shares of Tesla in a research note on Monday. The Goldman Sachs Group boosted their price objective on shares of Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a research report on Thursday, September 18th. Finally, Bank of America raised their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $326.74.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 in the last three months. Corporate 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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