Firethorn Wealth Partners LLC Has $751,000 Stock Position in Tesla, Inc. $TSLA

Firethorn Wealth Partners LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 33.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,364 shares of the electric vehicle producer’s stock after acquiring an additional 588 shares during the period. Firethorn Wealth Partners LLC’s holdings in Tesla were worth $751,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC grew its holdings in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares during the last quarter. Bison Wealth LLC grew its stake in shares of Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares in the last quarter. Congress Asset Management Co. bought a new position in shares of Tesla during the first quarter valued at about $315,000. Finally, Princeton Global Asset Management LLC boosted its holdings in Tesla by 17.7% during the first quarter. Princeton Global Asset Management LLC now owns 604 shares of the electric vehicle producer’s stock worth $157,000 after purchasing an additional 91 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 204,606 shares of company stock valued at $76,188,902 in the last 90 days. Corporate insiders own 19.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on TSLA. Mizuho increased their price objective on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday, September 23rd. Stifel Nicolaus set a $440.00 price target on Tesla in a research report on Friday, September 5th. UBS Group reissued a “sell” rating and issued a $215.00 price objective on shares of Tesla in a research report on Thursday. Canaccord Genuity Group raised their target price on Tesla from $333.00 to $490.00 and gave the company a “buy” rating in a research report on Tuesday, September 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $343.43.

Tesla Stock Performance

Tesla stock opened at $429.83 on Monday. The firm’s 50 day simple moving average is $364.02 and its 200 day simple moving average is $322.58. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The firm has a market capitalization of $1.43 trillion, a PE ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the company posted $0.52 EPS. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.