Triad Wealth Partners LLC Has $1.30 Million Holdings in Tesla, Inc. $TSLA

Key Points

• Triad Wealth Partners LLC increased its stake in Tesla by 18.5% in Q2, now holding 4,084 shares worth approximately $1.30 million.
• Tesla reported Q2 earnings of $0.40 per share, missing estimates of $0.43, with revenue of $22.50 billion falling short of expectations.
• A recent insider transaction saw SVP Xiaotong Zhu sell 20,000 shares for $7.28 million, reducing his ownership by nearly 30%.

Triad Wealth Partners LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,084 shares of the electric vehicle producer's stock after acquiring an additional 638 shares during the quarter. Triad Wealth Partners LLC's holdings in Tesla were worth $1,297,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC lifted its stake in Tesla by 86.3% in the 1st 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 lifted its position in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC lifted its position in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla during the first quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. increased its stake in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 40 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 1.4%

TSLA stock opened at $429.83 on Friday. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 248.46, a price-to-earnings-growth ratio of 15.15 and a beta of 2.08. The company has a 50-day moving average of $364.02 and a two-hundred day moving average of $321.39. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

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

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 208,606 shares of company stock worth $77,360,462. Insiders own 19.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TSLA shares. Piper Sandler lifted their target price on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a research note on Monday, September 22nd. Royal Bank Of Canada restated a "buy" rating on shares of Tesla in a research note on Friday, September 26th. 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. UBS Group reaffirmed a "sell" rating and set a $215.00 price target on shares of Tesla in a research note on Thursday. Finally, Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $343.43.

Tesla Company 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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