WealthPLAN Partners LLC Increases Position in Tesla, Inc. (NASDAQ:TSLA)

WealthPLAN Partners LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 9.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,649 shares of the electric vehicle producer’s stock after purchasing an additional 1,109 shares during the quarter. WealthPLAN Partners LLC’s holdings in Tesla were worth $2,503,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Integris Wealth Management LLC boosted its position in shares of Tesla by 1.0% in the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares in the last quarter. Echo Wealth Management LLC grew its stake in shares of Tesla by 0.7% during the second quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares during the last quarter. WASHINGTON TRUST Co increased its holdings in shares of Tesla by 3.2% during the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after acquiring an additional 45 shares in the last quarter. Bellevue Asset Management LLC grew its position in Tesla by 1.6% during the 2nd quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock worth $568,000 after purchasing an additional 45 shares during the last quarter. Finally, Cypress Capital Group increased its stake in Tesla by 1.7% during the 2nd quarter. Cypress Capital Group now owns 2,806 shares of the electric vehicle producer’s stock valued at $555,000 after purchasing an additional 47 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In related news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, 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. Corporate insiders own 25.10% of the company’s stock.

Tesla Trading Down 1.5 %

TSLA opened at $226.78 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company’s 50 day simple moving average is $222.85 and its two-hundred day simple moving average is $194.75. The firm has a market capitalization of $723.25 billion, a price-to-earnings ratio of 57.85, a price-to-earnings-growth ratio of 6.08 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $273.93.

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

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research analyst reports. TD Cowen raised their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Wednesday, July 3rd. Glj Research reissued a “sell” rating and set a $24.86 price target on shares of Tesla in a research report on Thursday, September 5th. Roth Mkm restated a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Canaccord Genuity Group reiterated a “buy” rating and issued a $254.00 price objective on shares of Tesla in a research note on Friday. Finally, Robert W. Baird restated an “outperform” rating and set a $280.00 target price on shares of Tesla in a research report on Tuesday, August 20th. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $209.60.

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.