Yarger Wealth Strategies LLC Raises Position in Tesla, Inc. $TSLA

Key Points

• Yarger Wealth Strategies LLC increased its position in Tesla, Inc. by 45.9% in Q2, bringing its total holdings to 1,962 shares valued at approximately $623,000.
• Several institutional investors made significant adjustments to their Tesla holdings, with Goldman Sachs increasing its stake by 322.1%, contributing to a total of 66.20% of Tesla shares being owned by institutional investors.
• Insider transactions were notable, with Director James R. Murdoch selling 60,000 shares and CFO Vaibhav Taneja selling 2,606 shares, indicating movements within the company's management holdings.

Yarger Wealth Strategies LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 45.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,962 shares of the electric vehicle producer's stock after acquiring an additional 617 shares during the period. Yarger Wealth Strategies LLC's holdings in Tesla were worth $623,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Tesla by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after acquiring an additional 849,091 shares in the last quarter. Amundi increased its position in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock valued at $3,832,047,000 after purchasing an additional 2,211,300 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the transaction, the director owned 637,031 shares of the company's stock, valued at $269,260,263.08. This trade represents a 8.61% 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 business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company's stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $435.90 on Tuesday. The stock has a market cap of $1.45 trillion, a P/E ratio of 251.97, a P/E/G ratio of 14.92 and a beta of 2.08. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The stock has a 50 day moving average of $378.50 and a two-hundred day moving average of $329.48. 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 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period 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. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on TSLA shares. TD Cowen boosted their target price on shares of Tesla from $374.00 to $509.00 and gave the stock a "buy" rating in a research note on Thursday, October 9th. Stifel Nicolaus set a $483.00 price objective on Tesla and gave the company a "buy" rating in a report on Wednesday, October 8th. The Goldman Sachs Group boosted their target price on Tesla from $395.00 to $425.00 and gave the stock a "neutral" rating in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Tesla from $345.00 to $435.00 and gave the company a "buy" rating in a research note on Friday, September 26th. Finally, CICC Research boosted their price objective on shares of Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $363.03.

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.

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.