Tesla, Inc. $TSLA Shares Purchased by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 28.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,780 shares of the electric vehicle producer's stock after acquiring an additional 4,626 shares during the quarter. Wealthcare Advisory Partners LLC's holdings in Tesla were worth $6,601,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TSLA. Brighton Jones LLC lifted its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares in the last quarter. Bison Wealth LLC boosted its position in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after purchasing an additional 3,558 shares during the period. Congress Asset Management Co. acquired a new stake in Tesla in the 1st quarter valued at $315,000. Finally, Princeton Global Asset Management LLC raised its position in Tesla by 17.7% in the first quarter. Princeton Global Asset Management LLC now owns 604 shares of the electric vehicle producer's stock valued at $157,000 after purchasing an additional 91 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TSLA shares. Robert W. Baird raised Tesla from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. Stifel Nicolaus set a $440.00 price target on Tesla in a report on Friday, September 5th. Piper Sandler increased their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research report on Monday, September 22nd. China Renaissance reissued a "hold" rating and set a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. Finally, The Goldman Sachs Group upped their target price on shares of Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company's stock. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and an average price target of $343.43.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company's stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 204,606 shares of company stock worth $76,188,902 in the last three months. 19.90% of the stock is owned by company insiders.

Tesla Stock Down 1.4%

NASDAQ:TSLA opened at $429.83 on Monday. The firm has a market capitalization of $1.43 trillion, a PE ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. The stock has a 50 day moving average of $364.02 and a 200-day moving average of $322.58. Tesla, Inc. has a 52 week low of $212.11 and a 52 week 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.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the business posted $0.52 earnings per share. The business's quarterly revenue was down 11.8% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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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