1,374 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Insight Wealth Partners LLC

Insight Wealth Partners LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 1,374 shares of the electric vehicle producer’s stock, valued at approximately $272,000.

Other hedge funds have also recently bought and sold shares of the company. Brookstone Capital Management raised its stake in Tesla by 20.4% in the 2nd quarter. Brookstone Capital Management now owns 141,287 shares of the electric vehicle producer’s stock worth $27,958,000 after purchasing an additional 23,903 shares in the last quarter. Blue Trust Inc. raised its position in shares of Tesla by 20.2% in the second quarter. Blue Trust Inc. now owns 19,947 shares of the electric vehicle producer’s stock valued at $3,947,000 after buying an additional 3,356 shares in the last quarter. Wheelhouse Advisory Group LLC grew its position in Tesla by 1.9% during the second quarter. Wheelhouse Advisory Group LLC now owns 4,282 shares of the electric vehicle producer’s stock worth $847,000 after buying an additional 78 shares in the last quarter. Old Port Advisors bought a new position in Tesla during the 2nd quarter worth $236,000. Finally, Evolution Wealth Advisors LLC raised its holdings in Tesla by 6.4% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 6,007 shares of the electric vehicle producer’s stock valued at $1,189,000 after acquiring an additional 361 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TSLA. Roth Mkm reissued a “neutral” rating and set a $85.00 target price on shares of Tesla in a report on Wednesday, July 24th. Wells Fargo & Company reissued an “underweight” rating and issued a $120.00 target price on shares of Tesla in a report on Monday, July 1st. Guggenheim reaffirmed a “sell” rating and set a $134.00 price target on shares of Tesla in a report on Tuesday, July 23rd. The Goldman Sachs Group decreased their price objective on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 24th. Finally, Stifel Nicolaus assumed coverage on shares of Tesla in a research report on Tuesday, June 25th. They set a “buy” rating and a $265.00 price objective for the company. Nine research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $204.21.

Tesla Trading Up 0.9 %

Shares of Tesla stock traded up $1.98 during midday trading on Friday, reaching $216.12. The company had a trading volume of 88,620,586 shares, compared to its average volume of 90,901,848. The stock has a fifty day moving average price of $215.14 and a 200 day moving average price of $190.97. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The firm has a market cap of $690.43 billion, a PE ratio of 55.13, a P/E/G ratio of 5.22 and a beta of 2.31. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). The business had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 1.79 earnings per share for the current year.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 66,364 shares of the firm’s 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 completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 66,364 shares of Tesla stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the transaction, the director now owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

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.