Redhawk Wealth Advisors Inc. Increases Stock Holdings in Tesla, Inc. $TSLA

Redhawk Wealth Advisors Inc. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,167 shares of the electric vehicle producer’s stock after acquiring an additional 434 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Tesla were worth $2,594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after buying an additional 9,293 shares during the period. Revolve Wealth Partners LLC boosted its stake in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after buying an additional 931 shares during the period. Mascagni Wealth Management Inc. purchased a new position in shares of Tesla in the 4th quarter valued at about $346,000. Highview Capital Management LLC DE purchased a new position in shares of Tesla in the 4th quarter valued at about $2,367,000. Finally, Bison Wealth LLC boosted 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 valued at $4,187,000 after buying an additional 3,558 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TSLA shares. HSBC reiterated a “reduce” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. Robert W. Baird restated a “neutral” rating and set a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Mizuho decreased their target price on Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research note on Tuesday, July 8th. Morgan Stanley restated an “overweight” rating and set a $410.00 target price on shares of Tesla in a research note on Friday, September 5th. Finally, Bank of America boosted their target price on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $310.79.

Tesla Trading Down 2.1%

TSLA opened at $416.85 on Friday. The firm has a market cap of $1.34 trillion, a price-to-earnings ratio of 240.95, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The business’s 50 day moving average is $338.43 and its two-hundred day moving average is $307.09. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company’s quarterly revenue was down 11.8% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’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 owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock valued at $77,360,462 over the last quarter. Company insiders own 20.70% of the company’s stock.

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.