Triton Wealth Management PLLC Invests $3.08 Million in Tesla, Inc. $TSLA

Triton Wealth Management PLLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,097 shares of the electric vehicle producer's stock, valued at approximately $3,083,000. Tesla accounts for approximately 1.3% of Triton Wealth Management PLLC's portfolio, making the stock its 14th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC boosted its position 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 worth $25,000 after buying an additional 44 shares during the period. First PREMIER Bank raised its stake in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC boosted its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new position in shares of Tesla in the first quarter worth $27,000. Finally, Chelsea Counsel Co. increased its holdings in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 40 shares during the period. Institutional investors own 66.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Melius started coverage on shares of Tesla in a research report on Monday. They issued a "buy" rating and a $520.00 target price for the company. Cantor Fitzgerald reiterated an "overweight" rating and issued a $355.00 price objective on shares of Tesla in a report on Friday, October 3rd. Dbs Bank raised their price objective on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Evercore ISI upped their target price on Tesla from $235.00 to $300.00 and gave the stock an "in-line" rating in a research report on Monday. Finally, Royal Bank Of Canada lifted their price target on Tesla from $325.00 to $500.00 and gave the company an "outperform" rating in a research report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $363.03.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $435.15 on Thursday. The company has a market capitalization of $1.45 trillion, a PE ratio of 251.53, a price-to-earnings-growth ratio of 15.47 and a beta of 2.08. 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 stock has a fifty day moving average of $383.21 and a 200-day moving average of $330.90. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 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 quarter in the previous year, the firm earned $0.52 earnings per share. The business's revenue was down 11.8% compared to the same quarter last year. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction that occurred on 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 sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 9,856 shares of the company's stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company's stock.

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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