Tesla, Inc. $TSLA Shares Acquired by Heritage Wealth Management Inc. CA

by · The Markets Daily

Heritage Wealth Management Inc. CA increased its holdings in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 36.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,109 shares of the electric vehicle producer’s stock after acquiring an additional 295 shares during the quarter. Heritage Wealth Management Inc. CA’s holdings in Tesla were worth $352,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC increased its holdings in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank increased its holdings in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC increased its holdings in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in Tesla in the first quarter valued at about $27,000. Finally, Chelsea Counsel Co. increased its holdings in Tesla by 59.7% in 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 during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of TSLA stock opened at $435.15 on Thursday. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The firm has a market capitalization of $1.45 trillion, a price-to-earnings ratio of 251.53, a price-to-earnings-growth ratio of 15.47 and a beta of 2.08. The business has a 50 day simple moving average of $383.21 and a 200 day simple moving average of $330.90. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the company earned $0.52 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $320.00 to $548.00 in a report on Friday, September 19th. Guggenheim reissued a “sell” rating and issued a $175.00 price objective on shares of Tesla in a report on Wednesday, July 23rd. Cantor Fitzgerald reiterated an “overweight” rating and set a $355.00 price target on shares of Tesla in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $345.00 to $435.00 and gave the stock a “buy” rating in a research report on Friday, September 26th. Finally, China Renaissance reiterated a “hold” rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Two investment 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 assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $363.03.

Check Out Our Latest Report on Tesla

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value 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 $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last three months. 19.90% of the stock is currently owned by corporate insiders.

About Tesla

(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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