Principle Wealth Partners LLC Has $7.28 Million Holdings in Tesla, Inc. $TSLA

Principle Wealth Partners LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 20.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,925 shares of the electric vehicle producer’s stock after purchasing an additional 3,885 shares during the period. Principle Wealth Partners LLC’s holdings in Tesla were worth $7,282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Siren L.L.C. acquired a new stake in shares of Tesla in the 1st quarter valued at $2,332,000. Zuckerman Investment Group LLC lifted its stake in shares of Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after purchasing an additional 826 shares during the last quarter. Keystone Global Partners LLC bought a new position in Tesla in the 1st quarter worth $594,000. Strs Ohio bought a new position in Tesla in the 1st quarter worth $205,495,000. Finally, IFM Investors Pty Ltd raised its holdings in Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer’s stock worth $153,436,000 after acquiring an additional 46,087 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla 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 transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TSLA shares. BNP Paribas Exane started coverage on shares of Tesla in a report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 target price on the stock. Guggenheim reiterated a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a report on Wednesday, October 8th. Finally, Morgan Stanley restated an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. 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 given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $366.73.

Tesla Price Performance

Shares of Tesla stock opened at $438.97 on Thursday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The firm’s 50-day moving average price is $393.73 and its two-hundred day moving average price is $336.97. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 253.74, a P/E/G ratio of 15.91 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. Tesla’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.