Resonant Capital Advisors LLC Raises Stock Holdings in Tesla, Inc. $TSLA

Resonant Capital Advisors LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 49.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,554 shares of the electric vehicle producer’s stock after acquiring an additional 2,822 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Tesla were worth $2,717,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TSLA. Brighton Jones LLC raised its holdings in shares of Tesla by 11.8% in the fourth 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 last quarter. Revolve Wealth Partners LLC increased its position in 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 acquiring an additional 931 shares during the period. Bison Wealth LLC raised its stake in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after acquiring an additional 3,558 shares during the last quarter. GAMMA Investing LLC lifted its position in Tesla by 6.0% during the 1st quarter. GAMMA Investing LLC now owns 37,862 shares of the electric vehicle producer’s stock worth $9,812,000 after acquiring an additional 2,153 shares during the period. Finally, First Merchants Corp grew its stake in shares of Tesla by 5.4% in the 1st quarter. First Merchants Corp now owns 2,382 shares of the electric vehicle producer’s stock valued at $617,000 after purchasing an additional 121 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

TSLA stock opened at $433.72 on Friday. The firm has a 50 day moving average of $398.06 and a 200-day moving average of $340.74. The company has a market cap of $1.44 trillion, a price-to-earnings ratio of 289.15, a PEG ratio of 15.59 and a beta of 2.08. The company has a current ratio of 2.07, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. During the same period last year, the business posted $0.72 EPS. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction 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 completion of the transaction, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s 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 $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last 90 days. 19.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TSLA has been the subject of several recent research reports. DZ Bank reaffirmed a “sell” rating on shares of Tesla in a report on Thursday. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $320.00 to $548.00 in a report on Friday, September 19th. Finally, HSBC lifted their price objective on Tesla from $120.00 to $127.00 in a report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $381.70.

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.