Wealthgarden F.S. LLC Buys New Position in Tesla, Inc. (NASDAQ:TSLA)

Wealthgarden F.S. LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,324 shares of the electric vehicle producer’s stock, valued at approximately $262,000.

Other hedge funds also recently added to or reduced their stakes in the company. Atalanta Sosnoff Capital LLC increased its holdings in shares of Tesla by 3.7% in the fourth quarter. Atalanta Sosnoff Capital LLC now owns 183,297 shares of the electric vehicle producer’s stock valued at $45,546,000 after purchasing an additional 6,575 shares during the period. Newbridge Financial Services Group Inc. increased its holdings in shares of Tesla by 7.4% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 28,222 shares of the electric vehicle producer’s stock valued at $7,013,000 after purchasing an additional 1,943 shares during the period. Entropy Technologies LP acquired a new position in shares of Tesla in the first quarter valued at about $1,941,000. Future Financial Wealth Managment LLC acquired a new position in shares of Tesla in the first quarter valued at about $79,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Tesla by 0.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,413,257 shares of the electric vehicle producer’s stock valued at $351,166,000 after purchasing an additional 6,034 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TSLA. Argus reissued a “buy” rating and issued a $286.00 price objective on shares of Tesla in a report on Friday, July 26th. Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 target price on shares of Tesla in a report on Thursday, September 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $245.00 target price on shares of Tesla in a report on Monday. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a report on Tuesday, July 9th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $295.00 target price on shares of Tesla in a report on Tuesday. Nine investment 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $209.03.

Insider Activity

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla 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 completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction 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 sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on 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 of the company’s stock, valued at $14,967,479.07. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $228.13 on Thursday. The business has a fifty day moving average of $224.13 and a two-hundred day moving average of $194.20. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The stock has a market cap of $728.79 billion, a price-to-earnings ratio of 58.20, a price-to-earnings-growth ratio of 5.57 and a beta of 2.29. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $278.98.

Tesla (NASDAQ:TSLA) last posted its earnings results 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). The business 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%. Tesla’s revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.78 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current year.

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.