Tesla, Inc. $TSLA Shares Bought by Signature Wealth Management Partners LLC

Signature Wealth Management Partners LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 18.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,014 shares of the electric vehicle producer’s stock after purchasing an additional 315 shares during the period. Signature Wealth Management Partners LLC’s holdings in Tesla were worth $640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Tesla during the 1st quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC raised its position in shares of Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after buying an additional 6,435,598 shares during the last quarter. Amundi lifted its stake in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. grew its stake in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the business’s 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 owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 204,606 shares of company stock worth $76,188,902 over the last quarter. 19.90% of the stock is owned by corporate insiders.

Tesla Trading Down 1.4%

TSLA opened at $429.83 on Monday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market capitalization of $1.43 trillion, a PE ratio of 248.46, a P/E/G ratio of 14.93 and a beta of 2.08. The firm’s fifty day moving average price is $364.02 and its 200 day moving average price is $322.58.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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%.Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 EPS. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TSLA. Canaccord Genuity Group lifted their price objective on Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Piper Sandler boosted their target price on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a report on Monday, September 22nd. China Renaissance reissued a “hold” rating and set a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft increased their target price on Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Finally, The Goldman Sachs Group upped their price target on Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $343.43.

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.