Whitaker Myers Wealth Managers LTD. Has $1.18 Million Position in Tesla, Inc. $TSLA

Key Points

• Whitaker Myers Wealth Managers LTD. increased its position in Tesla, Inc. by 37.1%, holding 3,718 shares valued at approximately $1.18 million as of their latest SEC filing.
• Multiple institutional investors have significantly boosted their stakes in Tesla recently, with Cherry Tree Wealth Management and First PREMIER Bank each increasing their holdings by over 79% in the first quarter.
• Insiders are actively selling shares of Tesla, with notable transactions including Director James R. Murdoch selling 120,000 shares for over $42 million in late August.

Whitaker Myers Wealth Managers LTD. grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 37.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,718 shares of the electric vehicle producer's stock after purchasing an additional 1,007 shares during the quarter. Whitaker Myers Wealth Managers LTD.'s holdings in Tesla were worth $1,181,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC boosted its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank boosted its stake in 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 raised its position in shares of Tesla by 250.0% during the first 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 last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the first quarter worth $27,000. Finally, Chelsea Counsel Co. raised its position 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 worth $28,000 after acquiring an additional 40 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the business's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,606 shares of company stock valued at $51,999,662. Company insiders own 20.70% of the company's stock.

Tesla Trading Up 7.4%

NASDAQ TSLA opened at $395.94 on Friday. The stock has a 50-day simple moving average of $328.89 and a 200 day simple moving average of $303.57. The company has a market capitalization of $1.28 trillion, a PE ratio of 228.87, a P/E/G ratio of 12.87 and a beta of 2.06. 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, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 EPS. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TSLA shares. Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Morgan Stanley restated an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Friday, September 5th. Wedbush restated an "outperform" rating and set a $500.00 target price on shares of Tesla in a research report on Monday, August 4th. Piper Sandler restated an "overweight" rating and set a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Finally, China Renaissance restated a "hold" rating and set a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $303.00.

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.

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