Tesla, Inc. $TSLA Shares Purchased by Triad Wealth Partners LLC

Key Points

• Triad Wealth Partners LLC increased its holdings in Tesla by 67.0%, acquiring an additional 1,382 shares, bringing their total to 3,446 shares valued at approximately $893,000.
• Goldman Sachs Group Inc. raised its Tesla shares holdings by 322.1%, now owning over 26 million shares worth approximately $6.89 billion, indicating significant confidence in Tesla's future performance.
• Insider trading activity included SVP Xiaotong Zhu selling 15,000 shares at an average price of $323.81, while CFO Vaibhav Taneja sold 6,000 shares at $341.02, reflecting a substantial decrease in their ownership stakes.

Triad Wealth Partners LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 67.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,446 shares of the electric vehicle producer's stock after purchasing an additional 1,382 shares during the period. Triad Wealth Partners LLC's holdings in Tesla were worth $893,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. increased its holdings in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Nuveen LLC bought a new position in shares of Tesla in the first quarter valued at $3,247,619,000. GAMMA Investing LLC increased its holdings in shares of Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock valued at $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Tesla by 54.3% in the first quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer's stock valued at $2,193,728,000 after buying an additional 2,978,026 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TSLA. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a report on Sunday, August 17th. Guggenheim reissued a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Robert W. Baird reissued a "neutral" rating and set a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Morgan Stanley reissued an "overweight" rating and set a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. Finally, Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have issued a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $303.31.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,564 shares of company stock worth $9,757,390 over the last ninety days. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Up 1.5%

NASDAQ TSLA opened at $351.67 on Wednesday. Tesla, Inc. has a 1-year low of $202.59 and a 1-year high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.13 trillion, a PE ratio of 203.28, a price-to-earnings-growth ratio of 12.05 and a beta of 2.33. The firm's fifty day simple moving average is $322.32 and its 200-day simple moving average is $302.82.

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

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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