Redwood Wealth Management Group LLC Buys 215 Shares of Tesla, Inc. $TSLA

Redwood Wealth Management Group LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,936 shares of the electric vehicle producer’s stock after purchasing an additional 215 shares during the quarter. Redwood Wealth Management Group LLC’s holdings in Tesla were worth $1,568,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in TSLA. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the 1st quarter worth approximately $27,000. Chelsea Counsel Co. raised its holdings in Tesla by 59.7% in 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 last quarter. Centennial Bank AR raised its holdings in Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. LGT Financial Advisors LLC purchased a new position in Tesla in the 2nd quarter worth approximately $29,000. Finally, Compass Wealth Management LLC raised its holdings in Tesla by 360.0% in the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after acquiring an additional 90 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tesla from $435.00 to $440.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. BNP Paribas Exane initiated coverage on shares of Tesla in a report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 price objective for the company. President Capital boosted their target price on shares of Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. Finally, UBS Group set a $247.00 target price on shares of Tesla in a research note on Monday, October 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and eleven have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $390.27.

Tesla Trading Up 3.7%

Shares of TSLA stock opened at $456.56 on Friday. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The firm has a fifty day moving average price of $410.52 and a 200-day moving average price of $348.12. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The company has a market cap of $1.52 trillion, a price-to-earnings ratio of 304.37, a PEG ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter in the previous year, the firm posted $0.72 EPS. The company’s revenue for the quarter was up 11.6% compared to the same quarter last year. As a group, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’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 sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 in the last 90 days. Company 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.