Tesla, Inc. $TSLA Shares Acquired by Wealth Alliance Advisory Group LLC

Wealth Alliance Advisory Group LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 18.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,572 shares of the electric vehicle producer’s stock after purchasing an additional 245 shares during the period. Wealth Alliance Advisory Group LLC’s holdings in Tesla were worth $499,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. Nuveen LLC acquired a new stake in Tesla during the first quarter worth about $3,247,619,000. GAMMA Investing LLC grew its holdings in Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares during the period. Amundi grew its holdings in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’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 in the company, valued at $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director 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 148,606 shares of company stock worth $51,999,662 over the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on TSLA shares. Argus reaffirmed a “hold” rating on shares of Tesla in a report on Monday, June 9th. Mizuho dropped their target price on Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a report on Tuesday, July 8th. Benchmark reiterated a “buy” rating and set a $475.00 price target (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Guggenheim reiterated a “sell” rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada reiterated an “overweight” rating on shares of Tesla in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $303.00.

Tesla Stock Performance

NASDAQ TSLA opened at $395.94 on Monday. The company has a market cap of $1.28 trillion, a PE ratio of 228.87, a price-to-earnings-growth ratio of 13.81 and a beta of 2.06. The stock’s 50 day simple moving average is $328.89 and its 200-day simple moving average is $303.72. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last released its 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). The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.52 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.