Morey & Quinn Wealth Partners LLC Buys 60 Shares of Tesla, Inc. $TSLA

Morey & Quinn Wealth Partners LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,096 shares of the electric vehicle producer’s stock after buying an additional 60 shares during the quarter. Tesla comprises approximately 0.8% of Morey & Quinn Wealth Partners LLC’s investment portfolio, making the stock its 29th biggest holding. Morey & Quinn Wealth Partners LLC’s holdings in Tesla were worth $983,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TSLA. Goldman Sachs Group Inc. lifted its stake in Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Nuveen LLC bought a new position in Tesla in the first quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its stake in Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after buying an additional 6,435,598 shares in the last quarter. Amundi lifted its stake in Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last three months. 19.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TSLA. Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a report on Wednesday. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. JPMorgan Chase & Co. lifted their price objective on shares of Tesla from $115.00 to $150.00 in a report on Friday, October 3rd. William Blair reiterated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $349.37.

Tesla Price Performance

Shares of TSLA opened at $435.54 on Friday. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 251.76, a PEG ratio of 16.04 and a beta of 2.08. The company’s fifty day simple moving average is $373.75 and its 200 day simple moving average is $326.64. 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 (NASDAQ:TSLA) last issued its quarterly earnings data 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). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla’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 company earned $0.52 earnings per share. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla 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.