Wealth Preservation Advisors LLC Acquires New Position in Tesla, Inc. $TSLA

Key Points

• Wealth Preservation Advisors LLC has acquired a new position in Tesla, purchasing 2,006 shares valued at approximately $520,000 during the first quarter.
• Several institutional investors, including Eagle Capital Management and Brighton Jones LLC, have recently increased their stakes in Tesla, indicating strong interest from the investment community.
• Tesla reported a quarterly earnings miss with an EPS of $0.40, falling short of analyst expectations and revealing a 11.8% year-over-year revenue decline.

Wealth Preservation Advisors LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,006 shares of the electric vehicle producer's stock, valued at approximately $520,000.

A number of other large investors also recently bought and sold shares of TSLA. Eagle Capital Management LLC purchased a new position in Tesla during the fourth quarter worth approximately $331,000. Brighton Jones LLC raised its stake in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after acquiring an additional 9,293 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of Tesla by 21.2% in 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 during the period. Mascagni Wealth Management Inc. purchased a new position in shares of Tesla in the 4th quarter valued at $346,000. Finally, Highview Capital Management LLC DE purchased a new position in shares of Tesla in the 4th quarter valued at $2,367,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on TSLA shares. Royal Bank Of Canada reissued an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Bank of America raised their price target on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. UBS Group set a $290.00 price objective on shares of Tesla in a report on Monday, June 30th. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Finally, Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have issued a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and an average target price of $303.31.

Tesla Stock Performance

Shares of TSLA opened at $351.67 on Wednesday. The firm's 50 day moving average is $322.32 and its 200-day moving average is $302.82. The stock has a market capitalization of $1.13 trillion, a P/E ratio of 203.28, a P/E/G ratio of 12.05 and a beta of 2.33. 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, Inc. has a 12-month low of $202.59 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion during 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%.The business'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 earned $0.52 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares of the company's stock, valued at $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,564 shares of company stock worth $9,757,390. 20.70% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.