Tyche Wealth Partners LLC Boosts Stock Position in Tesla, Inc. $TSLA

Tyche Wealth Partners LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,412 shares of the electric vehicle producer's stock after acquiring an additional 828 shares during the period. Tesla makes up 1.4% of Tyche Wealth Partners LLC's investment portfolio, making the stock its 14th biggest holding. Tyche Wealth Partners LLC's holdings in Tesla were worth $7,119,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC raised its stake in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. 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 during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla during the 1st quarter valued at approximately $27,000. Newton One Investments LLC raised its stake in shares of 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 buying an additional 75 shares in the last quarter. Finally, Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the 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 sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by insiders.

Analyst Ratings Changes

TSLA has been the subject of a number of analyst reports. CICC Research increased their target price on Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research note on Thursday, September 18th. Guggenheim reissued a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Canaccord Genuity Group increased their target price on Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Finally, Baird R W raised Tesla from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $344.40.

Tesla Stock Performance

TSLA opened at $433.09 on Wednesday. The stock has a market cap of $1.44 trillion, a P/E ratio of 250.34, a P/E/G ratio of 15.75 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock's 50 day simple moving average is $368.81 and its 200 day simple moving average is $324.77. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

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

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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