Sagespring Wealth Partners LLC Raises Holdings in Tesla, Inc. $TSLA

Sagespring Wealth Partners LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 26.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,725 shares of the electric vehicle producer’s stock after buying an additional 7,139 shares during the period. Sagespring Wealth Partners LLC’s holdings in Tesla were worth $10,713,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Equitable Trust Co. raised its stake in shares of Tesla by 46.4% during the 2nd quarter. Equitable Trust Co. now owns 15,413 shares of the electric vehicle producer’s stock worth $4,896,000 after buying an additional 4,882 shares in the last quarter. Frazier Financial Advisors LLC increased its stake in Tesla by 8.6% in the 2nd quarter. Frazier Financial Advisors LLC now owns 491 shares of the electric vehicle producer’s stock valued at $156,000 after purchasing an additional 39 shares in the last quarter. Founders Grove Wealth Partners LLC increased its stake in Tesla by 13.3% in the 2nd quarter. Founders Grove Wealth Partners LLC now owns 4,565 shares of the electric vehicle producer’s stock valued at $1,450,000 after purchasing an additional 535 shares in the last quarter. Baker Boyer National Bank increased its stake in Tesla by 17.2% in the 2nd quarter. Baker Boyer National Bank now owns 1,115 shares of the electric vehicle producer’s stock valued at $354,000 after purchasing an additional 164 shares in the last quarter. Finally, RFG Advisory LLC increased its stake in Tesla by 15.3% in the 2nd quarter. RFG Advisory LLC now owns 15,787 shares of the electric vehicle producer’s stock valued at $5,015,000 after purchasing an additional 2,097 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the firm’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 sale, the director owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 sale, the chief financial officer owned 9,856 shares in the company, 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 have sold 202,606 shares of company stock worth $75,588,902 over the last quarter. 19.90% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $435.15 on Thursday. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The business’s fifty day moving average price is $383.21 and its two-hundred day moving average price is $330.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock has a market cap of $1.45 trillion, a PE ratio of 251.53, a price-to-earnings-growth ratio of 15.47 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the business earned $0.52 EPS. Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TSLA shares. Glj Research reaffirmed a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. China Renaissance reaffirmed a “hold” rating and issued a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective on Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Finally, Bank of America increased their target price on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $363.03.

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.