Syntegra Private Wealth Group LLC Increases Holdings in Tesla, Inc. $TSLA

Syntegra Private Wealth Group LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,996 shares of the electric vehicle producer’s stock after purchasing an additional 87 shares during the quarter. Syntegra Private Wealth Group LLC’s holdings in Tesla were worth $634,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in TSLA. LGT Financial Advisors LLC purchased a new position in shares of Tesla in the second quarter worth $29,000. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the 1st quarter worth $27,000. Chelsea Counsel Co. boosted its holdings in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the last quarter. Evergreen Private Wealth LLC grew its position in shares of Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares in the last quarter. Finally, Centennial Bank AR increased its holdings in shares of Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a report on Friday, September 26th. CICC Research boosted their price target 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. UBS Group set a $247.00 price objective on shares of Tesla in a research report on Monday, October 6th. Cantor Fitzgerald reissued an “overweight” rating and issued a $355.00 price objective on shares of Tesla in a research note on Friday, October 3rd. Finally, Melius started coverage on shares of Tesla in a research report on Monday, October 13th. They set a “buy” rating and a $520.00 target price on the stock. 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 issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $363.54.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $447.43 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 258.63, a PEG ratio of 15.79 and a beta of 2.08. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The firm’s 50-day moving average is $389.71 and its 200 day moving average is $335.51.

Tesla (NASDAQ:TSLA) last released 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 for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the company posted $0.52 EPS. The company’s quarterly revenue was down 11.8% compared to the same quarter last year. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current 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.