Financial Synergies Wealth Advisors Inc. Increases Stake in Tesla, Inc. $TSLA

Financial Synergies Wealth Advisors Inc. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,379 shares of the electric vehicle producer’s stock after acquiring an additional 144 shares during the quarter. Financial Synergies Wealth Advisors Inc.’s holdings in Tesla were worth $438,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TSLA. Brighton Jones LLC raised its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after acquiring an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares during the period. Bison Wealth LLC grew its holdings in Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares during the period. GAMMA Investing LLC grew its holdings in Tesla by 6.0% in the first quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock valued at $9,812,000 after purchasing an additional 2,153 shares during the period. Finally, Osborne Partners Capital Management LLC acquired a new stake in Tesla in the first quarter valued at approximately $443,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. HSBC raised their price objective on Tesla from $120.00 to $127.00 in a report on Monday, September 29th. China Renaissance reissued a “hold” rating and issued a $349.00 price objective on shares of Tesla in a report on Friday, July 25th. Bank of America raised their price objective on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Glj Research reissued a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Tesla in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $363.54.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $439.31 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The business’s 50 day moving average price is $387.54 and its 200-day moving average price is $333.60. The firm has a market capitalization of $1.46 trillion, a PE ratio of 253.94, a P/E/G ratio of 15.79 and a beta of 2.08. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly 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 firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 earnings per share. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction 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 transaction, the chief financial officer directly 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 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

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.