Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Fairway Wealth LLC

Fairway Wealth LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 324.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 297 shares of the electric vehicle producer’s stock after purchasing an additional 227 shares during the period. Fairway Wealth LLC’s holdings in Tesla were worth $59,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Bank & Trust Co acquired a new position in shares of Tesla in the 2nd quarter valued at $25,000. Valley Wealth Managers Inc. acquired a new position in shares of Tesla in the second quarter valued at about $26,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla in the fourth quarter worth about $37,000. Kessler Investment Group LLC lifted its holdings in shares of Tesla by 35.9% during the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after purchasing an additional 51 shares during the period. Finally, Aspect Partners LLC increased its holdings in Tesla by 121.3% in the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after buying an additional 114 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on TSLA shares. HSBC lifted their price objective on shares of Tesla from $120.00 to $130.00 in a research note on Wednesday, July 10th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 price target on shares of Tesla in a research report on Monday. Guggenheim lifted their price objective on Tesla from $134.00 to $153.00 and gave the company a “sell” rating in a research note on Friday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $254.00 target price on shares of Tesla in a report on Friday. Finally, Citigroup decreased their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $209.60.

Tesla Stock Performance

Shares of Tesla stock opened at $226.78 on Tuesday. The firm has a market cap of $723.25 billion, a PE ratio of 57.85, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $273.93. The business’s fifty day simple moving average is $222.85 and its 200-day simple moving average is $194.75.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. Equities analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the company’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 transaction of $14,597,425.44. Following 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 legal filing with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

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.