Motive Wealth Advisors Raises Stock Position in Tesla, Inc. $TSLA

Motive Wealth Advisors lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,675 shares of the electric vehicle producer’s stock after acquiring an additional 402 shares during the quarter. Tesla accounts for about 0.7% of Motive Wealth Advisors’ holdings, making the stock its 25th biggest position. Motive Wealth Advisors’ holdings in Tesla were worth $1,485,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Means Investment CO. Inc. increased its holdings in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after acquiring an additional 6,323 shares in the last quarter. Focus Financial Network Inc. increased its stake in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after purchasing an additional 670 shares in the last quarter. Siren L.L.C. acquired a new position in shares of Tesla during the 1st quarter worth approximately $2,332,000. Zuckerman Investment Group LLC lifted its stake in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after buying an additional 826 shares in the last quarter. Finally, Keystone Global Partners LLC acquired a new stake in Tesla during the 1st quarter valued at $594,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Down 4.4%

Shares of TSLA stock opened at $423.39 on Friday. The firm’s 50-day simple moving average is $349.83 and its 200-day simple moving average is $312.97. 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 1-year low of $212.11 and a 1-year high of $488.54. The firm has a market cap of $1.41 trillion, a P/E ratio of 244.73, a PEG ratio of 15.45 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (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 analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the 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 transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on 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. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 in the last ninety days. Insiders own 19.90% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several recent research reports. Morgan Stanley reissued an “overweight” rating and set a $410.00 price target on shares of Tesla in a research report on Friday, September 5th. The Goldman Sachs Group lifted their price objective on Tesla from $300.00 to $395.00 and gave the stock a “neutral” rating in a research report on Thursday, September 18th. Bank of America upped their target price on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Wedbush reiterated an “outperform” rating and set a $500.00 price target on shares of Tesla in a report on Monday, September 15th. Finally, Glj Research reissued a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $326.74.

Tesla 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.