Instrumental Wealth LLC Acquires 49 Shares of Tesla, Inc. $TSLA

Instrumental Wealth LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,417 shares of the electric vehicle producer’s stock after buying an additional 49 shares during the quarter. Instrumental Wealth LLC’s holdings in Tesla were worth $440,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC raised its holdings in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank grew its position in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC grew its position in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla in the 1st quarter worth approximately $27,000. Finally, Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TSLA shares. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Bank of America lifted their price objective on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Piper Sandler lifted their price objective on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. Royal Bank Of Canada reissued a “buy” rating on shares of Tesla in a research report on Friday. Finally, Wedbush boosted their target price on shares of Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and nine have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $332.33.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock valued at $77,360,462 over the last 90 days. 19.90% of the stock is owned by company insiders.

Tesla Price Performance

Tesla stock opened at $440.40 on Friday. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The firm has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 254.57, a PEG ratio of 15.36 and a beta of 2.06. The company has a fifty day simple moving average of $352.05 and a 200-day simple moving average of $314.88. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the prior year, the company posted $0.52 EPS. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.