Tesla, Inc. $TSLA Shares Purchased by Udine Wealth Management Inc.

Udine Wealth Management Inc. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.7% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 10,690 shares of the electric vehicle producer’s stock after acquiring an additional 176 shares during the quarter. Tesla comprises about 2.0% of Udine Wealth Management Inc.’s portfolio, making the stock its 12th largest position. Udine Wealth Management Inc.’s holdings in Tesla were worth $3,396,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC lifted its position in 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 acquiring an additional 44 shares during the period. First PREMIER Bank lifted its position in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC lifted its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new stake in Tesla during the 1st quarter worth about $27,000. Finally, Chelsea Counsel Co. lifted its position in 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 acquiring an additional 40 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $413.49 on Monday. 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 twelve month low of $212.11 and a twelve month high of $488.54. The business has a 50-day moving average price of $375.97 and a 200 day moving average price of $328.28. The firm has a market cap of $1.37 trillion, a PE ratio of 239.01, a P/E/G ratio of 14.92 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its quarterly 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). 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 analysts’ expectations of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, 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. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 in the last 90 days. Corporate insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. China Renaissance reaffirmed a “hold” rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $355.00 price objective on shares of Tesla in a research note on Friday, October 3rd. Stifel Nicolaus set a $483.00 price objective on Tesla and gave the company a “buy” rating in a research note on Wednesday. Dbs Bank lifted their price objective on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Finally, JPMorgan Chase & Co. lifted their price objective on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $354.67.

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.