Omnia Family Wealth LLC Raises Position in Tesla, Inc. $TSLA

Omnia Family Wealth LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,908 shares of the electric vehicle producer’s stock after purchasing an additional 660 shares during the period. Tesla makes up about 0.4% of Omnia Family Wealth LLC’s portfolio, making the stock its 26th biggest holding. Omnia Family Wealth LLC’s holdings in Tesla were worth $1,241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Cherry Tree Wealth Management LLC raised its stake in 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 acquiring an additional 44 shares during the last quarter. First PREMIER Bank raised its stake in 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 acquiring an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new position in Tesla in the 1st quarter worth $27,000. Chelsea Counsel Co. raised its stake in Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. Finally, Centennial Bank AR raised its stake in Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $428.75 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The business has a 50-day moving average price of $385.34 and a 200 day moving average price of $332.07. The firm has a market cap of $1.43 trillion, a PE ratio of 247.83, a P/E/G ratio of 15.64 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its quarterly 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 EPS. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated 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 completion of the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 in the last 90 days. Corporate insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Mizuho raised their target price on Tesla from $375.00 to $450.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 23rd. The Goldman Sachs Group raised their target price on Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Royal Bank Of Canada raised their target price on Tesla from $325.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Wedbush lifted their price objective on Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Finally, Dbs Bank lifted their price objective on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $363.54.

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.