Dogwood Wealth Management LLC Raises Position in Tesla, Inc. $TSLA

Dogwood Wealth Management LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 163.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,187 shares of the electric vehicle producer’s stock after buying an additional 737 shares during the period. Dogwood Wealth Management LLC’s holdings in Tesla were worth $353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC raised its position in shares of Tesla by 86.3% in the first 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 in the last quarter. First PREMIER Bank increased its stake 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 acquiring an additional 42 shares during the last quarter. Newton One Investments LLC increased its stake 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 acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla in the first quarter valued at $27,000. Finally, Chelsea Counsel Co. increased its stake 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 acquiring an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 5.1%

NASDAQ TSLA opened at $436.00 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The stock has a market capitalization of $1.45 trillion, a PE ratio of 252.02, a PEG ratio of 15.97 and a beta of 2.08. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The business’s 50-day moving average is $361.74 and its 200 day moving average is $319.98.

Tesla (NASDAQ:TSLA) last posted its 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). The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.52 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on TSLA. HSBC increased their target price on Tesla from $120.00 to $127.00 in a research note on Monday. Guggenheim reissued a “sell” rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. The Goldman Sachs Group increased their target price on Tesla from $300.00 to $395.00 and gave the company a “neutral” rating in a research note on Thursday, September 18th. Stifel Nicolaus set a $440.00 target price on Tesla in a research note on Friday, September 5th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Tesla in a research note on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $341.46.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock valued at $77,360,462 over the last ninety days. 19.90% of the stock is owned by insiders.

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.