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

Whitaker Myers Wealth Managers LTD. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 37.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,718 shares of the electric vehicle producer’s stock after buying an additional 1,007 shares during the period. Whitaker Myers Wealth Managers LTD.’s holdings in Tesla were worth $1,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Somerset Trust Co boosted its position in shares of Tesla by 26.9% during the second quarter. Somerset Trust Co now owns 4,675 shares of the electric vehicle producer’s stock worth $1,485,000 after buying an additional 992 shares during the period. Versant Capital Management Inc boosted its position in shares of Tesla by 21.2% during the second quarter. Versant Capital Management Inc now owns 8,147 shares of the electric vehicle producer’s stock worth $2,588,000 after buying an additional 1,427 shares during the period. Dominguez Wealth Management Solutions Inc. acquired a new position in shares of Tesla during the second quarter worth about $214,000. Roxbury Financial LLC boosted its position in shares of Tesla by 22.4% during the second quarter. Roxbury Financial LLC now owns 541 shares of the electric vehicle producer’s stock worth $172,000 after buying an additional 99 shares during the period. Finally, Nova Wealth Management Inc. boosted its position in shares of Tesla by 15.4% during the second quarter. Nova Wealth Management Inc. now owns 1,384 shares of the electric vehicle producer’s stock worth $440,000 after buying an additional 185 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TSLA has been the subject of several recent research reports. Argus reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, June 9th. William Blair reissued a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Bank of America increased their price target on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Piper Sandler reissued an “overweight” rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Finally, Stifel Nicolaus set a $440.00 price target on Tesla in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $303.00.

Tesla Price Performance

NASDAQ:TSLA opened at $395.94 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock’s 50 day moving average price is $328.89 and its two-hundred day moving average price is $303.57. The firm has a market capitalization of $1.28 trillion, a price-to-earnings ratio of 228.87, a P/E/G ratio of 12.87 and a beta of 2.06. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released 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 the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 EPS. On average, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,606 shares of company stock worth $51,999,662 over the last 90 days. Company insiders own 20.70% of the company’s stock.

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.