Centurion Wealth Management LLC Acquires 584 Shares of Tesla, Inc. $TSLA

Centurion Wealth Management LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 13.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,067 shares of the electric vehicle producer’s stock after purchasing an additional 584 shares during the period. Centurion Wealth Management LLC’s holdings in Tesla were worth $1,610,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cherry Tree Wealth Management LLC increased its stake in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank increased its stake in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Pacific Center for Financial Services increased its stake in shares of Tesla by 1,616.7% in the 4th quarter. Pacific Center for Financial Services now owns 103 shares of the electric vehicle producer’s stock valued at $42,000 after purchasing an additional 97 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla in the 1st quarter valued at $27,000. Finally, Newton One Investments LLC increased its stake in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company’s stock, valued at approximately $244,162,988.99. This represents a 14.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,606 shares of company stock valued at $51,999,662. 20.70% of the stock is owned by company insiders.

Tesla Stock Up 7.4%

Shares of TSLA opened at $395.94 on Friday. The company has a market capitalization of $1.28 trillion, a PE ratio of 228.87, a PEG ratio of 12.87 and a beta of 2.06. 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’s 50-day moving average price is $328.89 and its two-hundred day moving average price is $303.57. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Bank of America boosted their price objective on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. HSBC restated a “reduce” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, July 3rd. Glj Research restated a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Finally, Stifel Nicolaus set a $440.00 price objective on Tesla in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $303.00.

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.