Towerpoint Wealth LLC Purchases 398 Shares of Tesla, Inc. $TSLA

Towerpoint Wealth LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 47.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,233 shares of the electric vehicle producer’s stock after acquiring an additional 398 shares during the period. Towerpoint Wealth LLC’s holdings in Tesla were worth $392,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. increased its stake 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 valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. Nuveen LLC bought a new stake in shares of Tesla in the 1st quarter valued at approximately $3,247,619,000. GAMMA Investing LLC grew its stake in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Amundi grew its stake in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,606 shares of company stock valued at $51,999,662. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

TSLA has been the topic of several analyst reports. UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. HSBC reiterated a “reduce” rating and issued a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. China Renaissance reiterated a “hold” rating and issued a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Wedbush reiterated an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research note on Monday. Finally, William Blair reissued a “market perform” rating on shares of Tesla in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $303.00.

Tesla Stock Performance

Shares of Tesla stock opened at $421.62 on Wednesday. The company has a market capitalization of $1.36 trillion, a PE ratio of 243.71, a PEG ratio of 14.30 and a beta of 2.06. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $333.69 and its 200 day simple moving average is $305.35.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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 business 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 business’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 EPS. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current 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.