Tesla, Inc. $TSLA Shares Purchased by Northstar Advisory Group LLC

Key Points

• Northstar Advisory Group LLC increased its Tesla holdings by 15.6%, owning 8,684 shares valued at approximately $2.76 million, making it the 24th largest position in their portfolio.
• Insider trades showed significant activity as Tesla CFO Vaibhav Taneja and SVP Xiaotong Zhu sold a combined total of 24,000 shares, leading to decreases of 40.31% and 29.59% in their respective positions.
• Tesla's quarterly earnings revealed an EPS of $0.40, missing analyst expectations, while revenues declined by 11.8% compared to the previous year, indicating potential challenges ahead for the company.

Northstar Advisory Group LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,684 shares of the electric vehicle producer's stock after purchasing an additional 1,172 shares during the quarter. Tesla accounts for about 1.3% of Northstar Advisory Group LLC's holdings, making the stock its 24th biggest position. Northstar Advisory Group LLC's holdings in Tesla were worth $2,759,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC raised its position 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 worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank grew its stake 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 period. Newton One Investments LLC increased its holdings in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla in the first quarter valued at about $27,000. Finally, Chelsea Counsel Co. boosted its holdings 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.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,735,080.36. This represents a 40.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction 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 directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 148,606 shares of company stock valued at $51,999,662. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

NASDAQ TSLA opened at $410.04 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.32 trillion, a price-to-earnings ratio of 237.02, a price-to-earnings-growth ratio of 13.81 and a beta of 2.06. Tesla, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The business has a fifty day moving average of $331.21 and a 200-day moving average of $304.53.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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). The company had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 EPS. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TSLA shares. Stifel Nicolaus set a $440.00 target price on shares of Tesla in a report on Friday, September 5th. Bank of America upped their price target on Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Argus reissued a "hold" rating on shares of Tesla in a report on Monday, June 9th. Finally, Wedbush reaffirmed an "outperform" rating and set a $500.00 price target on shares of Tesla in a research note on Monday. One equities research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $303.00.

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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