Wealthspire Advisors LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Wealthspire Advisors LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 5.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,204 shares of the electric vehicle producer’s stock after purchasing an additional 1,309 shares during the period. Wealthspire Advisors LLC’s holdings in Tesla were worth $4,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank & Trust Co purchased a new stake in shares of Tesla during the 2nd quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla during the 2nd quarter worth approximately $26,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla during the 4th quarter valued at approximately $37,000. Kessler Investment Group LLC grew its stake in Tesla by 35.9% in the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after acquiring an additional 51 shares during the period. Finally, Aspect Partners LLC raised its position in Tesla by 121.3% during the second quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after acquiring an additional 114 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 0.2 %

Shares of TSLA stock opened at $230.29 on Friday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The company has a 50 day moving average price of $223.37 and a 200 day moving average price of $194.66. The stock has a market capitalization of $735.69 billion, a P/E ratio of 58.75, a price-to-earnings-growth ratio of 6.03 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the previous year, the business posted $0.78 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis. Equities research analysts predict that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on TSLA shares. KGI Securities restated a “neutral” rating and set a $236.00 price target on shares of Tesla in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 target price on shares of Tesla in a research report on Tuesday. New Street Research cut Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price target for the company. in a research report on Wednesday, July 24th. Oppenheimer restated a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Finally, HSBC upped their target price on shares of Tesla from $120.00 to $130.00 in a report on Wednesday, July 10th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $209.60.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

About Tesla

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.