Wealthsource Partners LLC Purchases 467 Shares of Tesla, Inc. (NASDAQ:TSLA)

Wealthsource Partners LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLAGet Rating) by 13.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,882 shares of the electric vehicle producer’s stock after purchasing an additional 467 shares during the quarter. Wealthsource Partners LLC’s holdings in Tesla were worth $4,183,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TSLA. Acorn Financial Advisory Services Inc. ADV lifted its holdings in shares of Tesla by 0.4% during the first quarter. Acorn Financial Advisory Services Inc. ADV now owns 2,404 shares of the electric vehicle producer’s stock worth $2,591,000 after purchasing an additional 10 shares during the period. Shilanski & Associates Inc. increased its position in shares of Tesla by 4.9% during the first quarter. Shilanski & Associates Inc. now owns 215 shares of the electric vehicle producer’s stock worth $232,000 after purchasing an additional 10 shares in the last quarter. Tennessee Valley Asset Management Partners grew its holdings in Tesla by 3.2% in the 1st quarter. Tennessee Valley Asset Management Partners now owns 323 shares of the electric vehicle producer’s stock valued at $348,000 after buying an additional 10 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC lifted its stake in shares of Tesla by 0.6% in the 4th quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 1,847 shares of the electric vehicle producer’s stock valued at $1,952,000 after purchasing an additional 11 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in Tesla by 5.8% during the 1st quarter. Empowered Funds LLC now owns 202 shares of the electric vehicle producer’s stock worth $218,000 after acquiring an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 40.64% of the company’s stock.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $757.33, for a total transaction of $18,933,250.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $3,786,650. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tesla news, Director Kathleen Wilson-Thompson sold 8,750 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $904.00, for a total transaction of $7,910,000.00. Following the completion of the sale, the director now directly owns 1,800 shares of the company’s stock, valued at approximately $1,627,200. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 25,000 shares of Tesla stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $757.33, for a total value of $18,933,250.00. Following the sale, the director now owns 5,000 shares of the company’s stock, valued at $3,786,650. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,239 shares of company stock worth $53,099,879. Insiders own 25.10% of the company’s stock.

Tesla Trading Down 5.8 %

Shares of TSLA traded down $54.10 during trading hours on Friday, hitting $871.80. 1,181,291 shares of the stock were exchanged, compared to its average volume of 30,116,138. The firm has a market capitalization of $910.59 billion, a P/E ratio of 111.55, a price-to-earnings-growth ratio of 2.79 and a beta of 2.17. Tesla, Inc. has a fifty-two week low of $620.57 and a fifty-two week high of $1,243.49. The business has a 50-day moving average of $741.57 and a 200-day moving average of $843.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.43 and a quick ratio of 1.06.

Tesla (NASDAQ:TSLAGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The electric vehicle producer reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.46. Tesla had a net margin of 14.17% and a return on equity of 29.04%. The firm had revenue of $16.93 billion for the quarter, compared to analyst estimates of $16.92 billion. During the same period last year, the firm earned $1.02 earnings per share. The business’s quarterly revenue was up 41.6% compared to the same quarter last year. On average, research analysts expect that Tesla, Inc. will post 10.58 EPS for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent research reports. Piper Sandler cut their price target on Tesla from $1,260.00 to $1,035.00 and set an “overweight” rating on the stock in a report on Wednesday, May 18th. Jefferies Financial Group decreased their price objective on Tesla from $1,250.00 to $1,050.00 and set a “buy” rating for the company in a research report on Thursday, May 26th. They noted that the move was a valuation call. Morgan Stanley reduced their price target on Tesla from $1,200.00 to $1,150.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Robert W. Baird reduced their price target on Tesla from $1,108.00 to $949.00 in a report on Thursday, July 21st. Finally, The Goldman Sachs Group reduced their price objective on Tesla from $1,200.00 to $1,000.00 and set a “buy” rating for the company in a report on Wednesday, June 1st. Eight investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $859.50.

Tesla Company Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLAGet Rating).

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.