Legacy Capital Wealth Partners LLC Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Legacy Capital Wealth Partners LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 56.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,515 shares of the electric vehicle producer’s stock after purchasing an additional 906 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Tesla were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank & Trust Co purchased a new position in Tesla in the second quarter worth $25,000. OLD Point Trust & Financial Services N A purchased a new position in shares of Tesla in the 4th quarter valued at about $37,000. Guardian Wealth Management Inc. acquired a new stake in shares of Tesla in the fourth quarter valued at about $47,000. Kessler Investment Group LLC lifted its stake in shares of Tesla by 35.9% in the second quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock valued at $38,000 after purchasing an additional 51 shares during the period. Finally, A.P. Gilfoyle & Co. L.P. purchased a new stake in Tesla during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TSLA shares. Citigroup reduced their price target on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a research report on Wednesday, July 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a report on Wednesday, July 24th. TD Cowen upped their target price on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday, July 3rd. UBS Group downgraded Tesla from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Finally, Wedbush reissued an “outperform” rating and issued a $300.00 price objective on shares of Tesla in a research note on Wednesday, July 24th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $204.21.

Tesla Trading Down 1.6 %

Shares of TSLA opened at $210.60 on Wednesday. The stock’s fifty day simple moving average is $223.09 and its 200 day simple moving average is $193.08. The firm has a market capitalization of $672.79 billion, a P/E ratio of 53.72, a price-to-earnings-growth ratio of 5.55 and a beta of 2.29. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $138.80 and a twelve month high of $278.98.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same period last year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, equities research analysts forecast that Tesla, Inc. will post 1.79 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The disclosure for this sale can be found here. 25.10% of the stock is owned by corporate insiders.

Tesla Company 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.