WealthPlan Investment Management LLC Purchases 4,967 Shares of Tesla, Inc. $TSLA

Key Points

• WealthPlan Investment Management LLC increased its holdings in Tesla, Inc. by 57.1%, acquiring an additional 4,967 shares during the second quarter, bringing its total shares to 13,664 valued at approximately $4.34 million.
• Tesla reported a Q2 EPS of $0.40, missing estimates and experiencing an 11.8% decline in revenue year-over-year, totaling $22.50 billion.
• Insider transactions revealed significant sales, with the SVP selling 20,000 shares for about $7.28 million, reducing their stake by nearly 30%.

WealthPlan Investment Management LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 57.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,664 shares of the electric vehicle producer's stock after acquiring an additional 4,967 shares during the period. WealthPlan Investment Management LLC's holdings in Tesla were worth $4,341,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Alta Capital Management LLC bought a new position in Tesla in the second quarter worth approximately $444,000. Callahan Advisors LLC boosted its holdings in Tesla by 7.2% in the second quarter. Callahan Advisors LLC now owns 1,037 shares of the electric vehicle producer's stock worth $329,000 after acquiring an additional 70 shares in the last quarter. Uptick Partners LLC lifted its holdings in shares of Tesla by 11.5% in the second quarter. Uptick Partners LLC now owns 2,482 shares of the electric vehicle producer's stock valued at $788,000 after purchasing an additional 256 shares in the last quarter. Copia Wealth Management lifted its holdings in shares of Tesla by 21.4% in the second quarter. Copia Wealth Management now owns 863 shares of the electric vehicle producer's stock valued at $274,000 after purchasing an additional 152 shares in the last quarter. Finally, Keeler & Nadler Financial Planning & Wealth Management bought a new position in shares of Tesla in the second quarter valued at approximately $226,000. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of Tesla stock opened at $428.75 on Friday. The business's fifty day simple moving average is $385.34 and its 200 day simple moving average is $332.07. The firm has a market capitalization of $1.43 trillion, a P/E ratio of 247.83, a price-to-earnings-growth ratio of 15.64 and a beta of 2.08. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly 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). 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 the consensus estimate of $23.18 billion. During the same quarter last year, the business posted $0.52 earnings per share. The business's revenue was down 11.8% compared to the same quarter last year. As a group, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last ninety days. 19.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on TSLA. Barclays restated a "negative" rating and issued a $350.00 target price (up previously from $275.00) on shares of Tesla in a report on Thursday. The Goldman Sachs Group raised their target price on Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a report on Friday, October 3rd. Industrial Alliance Securities set a $300.00 target price on Tesla in a report on Monday. Evercore ISI raised their target price on Tesla from $235.00 to $300.00 and gave the company an "in-line" rating in a report on Monday. Finally, Wedbush raised their target price on Tesla from $500.00 to $600.00 and gave the company an "outperform" rating in a report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $363.54.

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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