Three Seasons Wealth LLC Invests $209.95 Million in Tesla, Inc. $TSLA

Key Points

• Three Seasons Wealth LLC has made a significant investment in Tesla, acquiring 660,913 shares valued at approximately $209.95 million, which constitutes 24.1% of its portfolio.
• Multiple institutional investors have increased their stakes in Tesla, with notable increases including Cherry Tree Wealth Management boosting its stake by 86.3% in the first quarter.
• Wall Street analysts maintain a mixed view on Tesla, with ratings ranging from Strong Buy to Sell, and a consensus target price of $317.70.

Three Seasons Wealth LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm bought 660,913 shares of the electric vehicle producer's stock, valued at approximately $209,946,000. Tesla accounts for approximately 24.1% of Three Seasons Wealth LLC's investment portfolio, making the stock its 2nd biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC raised its holdings in shares of Tesla by 86.3% during 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 during the last quarter. First PREMIER Bank boosted its position in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC lifted its position in Tesla by 250.0% during the first 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 during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the first quarter valued at $27,000. Finally, Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company's stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,606 shares of company stock valued at $77,360,462. 20.70% of the stock is owned by corporate insiders.

Tesla Trading Up 1.9%

Shares of NASDAQ:TSLA traded up $7.94 during midday trading on Monday, reaching $434.01. The company had a trading volume of 84,318,596 shares, compared to its average volume of 103,290,867. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The firm has a market cap of $1.44 trillion, a price-to-earnings ratio of 251.37, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. 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 company has a fifty day simple moving average of $340.68 and a two-hundred day simple moving average of $308.67.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on TSLA. Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and raised their target price for the company from $320.00 to $548.00 in a research report on Friday. CICC Research boosted their price target on shares of Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a research report on Thursday. Mizuho cut their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. William Blair restated a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Finally, Guggenheim reissued a "sell" rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus target price of $324.53.

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.