Copia Wealth Management Purchases 152 Shares of Tesla, Inc. $TSLA

Copia Wealth Management raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 21.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 863 shares of the electric vehicle producer’s stock after acquiring an additional 152 shares during the period. Copia Wealth Management’s holdings in Tesla were worth $274,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC boosted its holdings in shares of Tesla by 86.3% during the first 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 boosted its holdings in shares of 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 during the period. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the first quarter worth approximately $27,000. Chelsea Counsel Co. boosted its stake in shares of Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the period. Finally, Evergreen Private Wealth LLC boosted its stake in shares of Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after buying an additional 81 shares during the period. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several recent research reports. Robert W. Baird upgraded Tesla from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Barclays reiterated a “negative” rating and issued a $350.00 price target (up from $275.00) on shares of Tesla in a research note on Thursday. Guggenheim reiterated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Finally, William Blair reiterated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $363.54.

Tesla Stock Down 1.5%

Shares of TSLA opened at $428.75 on Friday. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company has a market cap of $1.43 trillion, a P/E ratio of 247.83, a P/E/G ratio of 15.64 and a beta of 2.08. 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 firm has a 50 day simple moving average of $385.34 and a two-hundred day simple moving average of $332.07.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. 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 firm earned $0.52 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s 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 owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents 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 202,606 shares of company stock worth $75,588,902. Corporate insiders own 19.90% of the company’s stock.

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.