Old North State Wealth Management LLC Buys 183 Shares of Tesla, Inc. $TSLA

Old North State Wealth Management LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 11.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,745 shares of the electric vehicle producer’s stock after acquiring an additional 183 shares during the period. Old North State Wealth Management LLC’s holdings in Tesla were worth $554,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Conrad Siegel Investment Advisors Inc. grew its holdings in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after acquiring an additional 34 shares in the last quarter. Acorn Wealth Advisors LLC increased its position in Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after buying an additional 36 shares during the last quarter. Solutions 4 Wealth Ltd increased its position in Tesla by 2.0% during the first quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock worth $470,000 after buying an additional 36 shares during the last quarter. ACT Wealth Management LLC increased its position in Tesla by 0.7% during the second quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer’s stock worth $1,717,000 after buying an additional 36 shares during the last quarter. Finally, Capital Management Associates Inc increased its position in Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock worth $302,000 after buying an additional 38 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 208,606 shares of company stock worth $77,360,462. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TSLA shares. Royal Bank Of Canada reissued a “buy” rating on shares of Tesla in a research report on Friday. CICC Research boosted their price target on Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. Bank of America boosted their price target on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Wedbush boosted their price target on Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $332.33.

Tesla Trading Up 4.0%

Shares of NASDAQ:TSLA opened at $440.40 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The business has a 50 day moving average of $352.05 and a 200-day moving average of $314.42. The stock has a market cap of $1.46 trillion, a PE ratio of 254.57, a P/E/G ratio of 14.77 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.