Rockline Wealth Management LLC Buys 1,362 Shares of Tesla, Inc. $TSLA

Rockline Wealth Management LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,485 shares of the electric vehicle producer’s stock after purchasing an additional 1,362 shares during the quarter. Rockline Wealth Management LLC’s holdings in Tesla were worth $4,284,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. LGT Financial Advisors LLC acquired a new stake in Tesla in the second quarter worth about $29,000. Arcadia Investment Management Corp MI bought a new position in Tesla in the first quarter valued at approximately $27,000. Chelsea Counsel Co. raised its position in shares of Tesla by 59.7% during the 1st 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 during the last quarter. Evergreen Private Wealth LLC increased its holdings in 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 purchasing an additional 81 shares during the last quarter. Finally, Centennial Bank AR grew its position in shares of Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on TSLA shares. Industrial Alliance Securities set a $300.00 price target on shares of Tesla in a research report on Monday, October 13th. DZ Bank restated a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. Cantor Fitzgerald set a $510.00 price target on Tesla and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Benchmark reissued a “buy” rating on shares of Tesla in a research note on Thursday, October 23rd. Finally, Melius initiated coverage on shares of Tesla in a research note on Monday, October 13th. They issued a “buy” rating and a $520.00 price target on the stock. One equities 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $390.27.

Tesla Stock Performance

TSLA opened at $468.37 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.56 trillion, a price-to-earnings ratio of 312.25, a PEG ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The business has a 50 day moving average of $412.95 and a 200-day moving average of $350.47.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 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 business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the prior year, the business earned $0.72 EPS. Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The stock was 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 of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by company insiders.

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.