Triad Wealth Partners LLC Has $1.30 Million Position in Tesla, Inc. $TSLA

Triad Wealth Partners LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 18.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,084 shares of the electric vehicle producer’s stock after buying an additional 638 shares during the quarter. Triad Wealth Partners LLC’s holdings in Tesla were worth $1,297,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in TSLA. Cherry Tree Wealth Management LLC lifted its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares during the period. First PREMIER Bank raised its stake in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the first quarter valued at $27,000. Newton One Investments LLC grew its holdings in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Finally, Chelsea Counsel Co. increased its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

TSLA opened at $429.83 on Friday. The company has a fifty day moving average price of $364.02 and a two-hundred day moving average price of $321.39. The firm has a market capitalization of $1.43 trillion, a PE ratio of 248.46, a P/E/G ratio of 15.15 and a beta of 2.08. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

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

Analysts Set New Price Targets

Several brokerages have weighed in on TSLA. Mizuho upped their price objective on shares of Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 23rd. Dbs Bank raised their price target on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. CICC Research lifted their price objective on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. Benchmark restated a “buy” rating and set a $475.00 target price (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Finally, William Blair reaffirmed a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and eight have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $343.43.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock valued at $77,360,462 in the last ninety days. 19.90% 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.