Tesla, Inc. $TSLA Shares Purchased by Adamsbrown Wealth Consultants LLC

by · The Cerbat Gem

Adamsbrown Wealth Consultants LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 9.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,124 shares of the electric vehicle producer’s stock after buying an additional 277 shares during the quarter. Adamsbrown Wealth Consultants LLC’s holdings in Tesla were worth $992,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank grew its holdings in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC increased its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla in the first quarter valued at approximately $27,000. Finally, Chelsea Counsel Co. lifted its position in 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 buying an additional 40 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently issued reports on TSLA. Benchmark reissued a “buy” rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. UBS Group set a $290.00 price objective on Tesla in a research report on Monday, June 30th. Glj Research restated a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Mizuho lowered their target price on Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research note on Tuesday, July 8th. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a research report on Sunday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $303.00.

Check Out Our Latest Report on TSLA

Tesla Stock Performance

Tesla stock opened at $395.94 on Monday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. 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 cap of $1.28 trillion, a P/E ratio of 228.87, a price-to-earnings-growth ratio of 13.81 and a beta of 2.06. The stock has a 50 day moving average of $328.89 and a 200-day moving average of $303.72.

Tesla (NASDAQ:TSLA – Get Free Report) last posted 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 net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the company earned $0.52 earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. On average, analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred 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 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,606 shares of company stock worth $51,999,662. 20.70% of the stock is currently owned by corporate insiders.

Tesla Company Profile

(Free Report)

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.

Further Reading

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