Wealthstream Advisors Inc. Purchases 419 Shares of Tesla, Inc. $TSLA

Wealthstream Advisors Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 17.3% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,847 shares of the electric vehicle producer’s stock after acquiring an additional 419 shares during the period. Wealthstream Advisors Inc.’s holdings in Tesla were worth $904,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First PREMIER Bank raised its stake 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 valued at $25,000 after acquiring an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the first quarter valued at approximately $27,000. Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. Evergreen Private Wealth LLC raised its stake in shares of Tesla by 270.0% during the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares in the last quarter. Finally, Centennial Bank AR raised its stake in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock valued at $29,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TSLA shares. Bank of America lifted their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Morgan Stanley reissued an “overweight” rating on shares of Tesla in a report on Wednesday. UBS Group set a $247.00 price objective on shares of Tesla in a report on Monday, October 6th. Guggenheim reissued a “sell” rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Finally, Melius Research set a $520.00 price objective on shares of Tesla and gave the company a “buy” rating in a report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $363.54.

Tesla Price Performance

NASDAQ TSLA opened at $439.31 on Friday. The firm’s fifty day simple moving average is $387.54 and its two-hundred day simple moving average is $333.60. The company has a current ratio of 2.04, a quick ratio of 1.55 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 firm has a market capitalization of $1.46 trillion, a P/E ratio of 253.94, a P/E/G ratio of 15.79 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 in the last 90 days. Insiders own 19.90% of the company’s stock.

Tesla Company 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.