1,079 Shares in Tesla, Inc. (NASDAQ:TSLA) Bought by Bridgewealth Advisory Group LLC

Bridgewealth Advisory Group LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,079 shares of the electric vehicle producer’s stock, valued at approximately $214,000.

A number of other hedge funds have also recently bought and sold shares of TSLA. Frank Rimerman Advisors LLC lifted its position in shares of Tesla by 1,125.7% during the second quarter. Frank Rimerman Advisors LLC now owns 31,427 shares of the electric vehicle producer’s stock valued at $6,219,000 after purchasing an additional 28,863 shares in the last quarter. Holderness Investments Co. increased its stake in Tesla by 10.0% in the 2nd quarter. Holderness Investments Co. now owns 3,198 shares of the electric vehicle producer’s stock valued at $633,000 after buying an additional 290 shares during the last quarter. Circle Wealth Management LLC lifted its position in shares of Tesla by 50.9% during the 2nd quarter. Circle Wealth Management LLC now owns 21,318 shares of the electric vehicle producer’s stock worth $4,218,000 after buying an additional 7,193 shares in the last quarter. Merriman Wealth Management LLC boosted its stake in shares of Tesla by 5.8% in the 2nd quarter. Merriman Wealth Management LLC now owns 13,349 shares of the electric vehicle producer’s stock worth $2,641,000 after buying an additional 728 shares during the last quarter. Finally, Symmetry Investments LP grew its holdings in shares of Tesla by 326.6% in the second quarter. Symmetry Investments LP now owns 8,536 shares of the electric vehicle producer’s stock valued at $1,689,000 after acquiring an additional 6,535 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the sale, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Tesla Price Performance

Tesla stock opened at $238.25 on Friday. The stock has a market cap of $759.83 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 6.00 and a beta of 2.29. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08. The business has a 50-day simple moving average of $221.30 and a 200 day simple moving average of $195.94. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $271.00.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.10). The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. On average, research analysts forecast that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research report on Friday, July 5th. Cantor Fitzgerald reissued a “neutral” rating and issued a $245.00 price target on shares of Tesla in a report on Monday, September 16th. Citigroup decreased their price objective on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $310.00 price target on shares of Tesla in a report on Thursday, September 5th. Nine equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $209.60.

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.