TRUE Private Wealth Advisors Purchases 174 Shares of Tesla, Inc. $TSLA

TRUE Private Wealth Advisors lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,465 shares of the electric vehicle producer’s stock after buying an additional 174 shares during the period. TRUE Private Wealth Advisors’ holdings in Tesla were worth $2,054,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. First Merchants Corp lifted its position in shares of Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after purchasing an additional 31 shares in the last quarter. Alaska Wealth Advisors grew its holdings in shares of Tesla by 3.4% in the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after acquiring an additional 32 shares in the last quarter. KWB Wealth increased its position in shares of Tesla by 2.4% in the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after acquiring an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. raised its holdings in Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after acquiring an additional 34 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. boosted its position in Tesla by 0.7% during the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Up 0.8%

Shares of TSLA opened at $404.45 on Wednesday. The firm has a market cap of $1.35 trillion, a P/E ratio of 269.49, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The firm’s 50-day simple moving average is $432.00 and its 200 day simple moving average is $363.04.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business’s revenue was up 11.6% on a year-over-year basis. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of Tesla 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 completion of the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last ninety days. 19.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TSLA. TD Cowen upped their price objective on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Cantor Fitzgerald set a $510.00 price target on shares of Tesla and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Benchmark reissued a “buy” rating on shares of Tesla in a research report on Thursday, October 23rd. President Capital upped their target price on shares of Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $394.31.

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.