Tesla, Inc. $TSLA Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 20.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 97,926 shares of the electric vehicle producer’s stock after purchasing an additional 16,613 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Tesla were worth $31,107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC increased its position in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank increased its position in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC increased its position in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the 1st quarter valued at about $27,000. Finally, Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred on 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 directly owned 9,856 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. Company insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Mizuho boosted their price objective on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research report on Tuesday, September 23rd. Dbs Bank boosted their price objective on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. JPMorgan Chase & Co. boosted their price objective on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Melius Research set a $520.00 price objective on shares of Tesla and gave the company a “buy” rating in a research report on Monday. Finally, Wedbush boosted their price objective on shares of Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have given a Hold rating and eight have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $363.03.

Tesla Trading Down 1.5%

Tesla stock opened at $429.24 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $380.91 and a two-hundred day moving average price of $330.17. The firm has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 248.12, a PEG ratio of 15.71 and a beta of 2.08. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during 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 revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.52 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current 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.