OMNI 360 Wealth Inc. Boosts Holdings in Tesla, Inc. $TSLA

OMNI 360 Wealth Inc. boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 20.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,472 shares of the electric vehicle producer’s stock after acquiring an additional 594 shares during the period. OMNI 360 Wealth Inc.’s holdings in Tesla were worth $1,103,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Bangor Savings Bank raised its holdings in shares of Tesla by 5.9% in the second quarter. Bangor Savings Bank now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after buying an additional 55 shares during the last quarter. Abner Herrman & Brock LLC purchased a new position in shares of Tesla in the second quarter worth $17,753,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Tesla by 761.7% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 16,916 shares of the electric vehicle producer’s stock worth $5,373,000 after buying an additional 14,953 shares during the last quarter. Salem Investment Counselors Inc. raised its holdings in shares of Tesla by 6.4% in the second quarter. Salem Investment Counselors Inc. now owns 9,112 shares of the electric vehicle producer’s stock worth $2,895,000 after buying an additional 545 shares during the last quarter. Finally, Peterson Wealth Advisors LLC raised its holdings in shares of Tesla by 20.1% in the second quarter. Peterson Wealth Advisors LLC now owns 2,401 shares of the electric vehicle producer’s stock worth $763,000 after buying an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity

In other news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% 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 90 days. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research analyst reports. Stifel Nicolaus set a $440.00 price target on shares of Tesla in a report on Friday, September 5th. Bank of America raised their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Glj Research reaffirmed a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Robert W. Baird reissued a “neutral” rating and set a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Finally, Guggenheim reissued a “sell” rating and set a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have issued a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $303.00.

Tesla Stock Up 7.4%

TSLA stock opened at $395.94 on Friday. The firm has a market cap of $1.28 trillion, a PE ratio of 228.87, a P/E/G ratio of 12.87 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm’s fifty day moving average is $328.89 and its 200 day moving average is $303.57. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results 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 firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.52 EPS. On average, research analysts forecast that Tesla, Inc. will post 2.56 EPS 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.