Tesla, Inc. $TSLA Shares Purchased by Peterson Wealth Services

Key Points

• Peterson Wealth Services increased its stake in Tesla by 23.0%, owning 45,024 shares valued at approximately $14.3 million, making Tesla its fifth largest holding.
• Tesla's latest earnings report showed an EPS of $0.50, exceeding analyst expectations, with revenues of $28.10 billion for the quarter, an 11.6% increase year-over-year.
• Analysts have updated price targets for Tesla, with HSBC raising it to $127.00 and Mizuho to $485.00, reflecting ongoing positive sentiment towards the stock.

Peterson Wealth Services lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 23.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,024 shares of the electric vehicle producer's stock after purchasing an additional 8,410 shares during the period. Tesla accounts for approximately 3.9% of Peterson Wealth Services' holdings, making the stock its 5th largest holding. Peterson Wealth Services' holdings in Tesla were worth $14,302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. LGT Financial Advisors LLC acquired a new stake in shares of Tesla in the 2nd quarter valued at approximately $29,000. Arcadia Investment Management Corp MI bought a new stake in Tesla in the first quarter valued at approximately $27,000. Chelsea Counsel Co. raised its holdings in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 40 shares during the period. Evergreen Private Wealth LLC boosted its position in shares of Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer's stock worth $35,000 after purchasing an additional 81 shares in the last quarter. Finally, Centennial Bank AR grew its holdings in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after buying an additional 100 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Trading Down 3.4%

Shares of NASDAQ:TSLA opened at $433.72 on Friday. The company's 50-day moving average price is $398.06 and its two-hundred day moving average price is $339.92. Tesla, Inc. has a one year low of $214.25 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.55. The stock has a market capitalization of $1.44 trillion, a PE ratio of 289.15, a price-to-earnings-growth ratio of 16.13 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla's quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction dated 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 directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company's stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. HSBC raised their price objective on Tesla from $120.00 to $127.00 in a research note on Monday, September 29th. Wall Street Zen upgraded Tesla from a "sell" rating to a "hold" rating in a report on Saturday. Mizuho boosted their price objective on Tesla from $450.00 to $485.00 and gave the company an "outperform" rating in a research report on Thursday. UBS Group set a $247.00 target price on shares of Tesla in a report on Monday, October 6th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Tesla from $435.00 to $440.00 and gave the company a "buy" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, twelve have issued a Hold rating and eleven have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $380.03.

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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