Great Waters Wealth Management Has $1.18 Million Position in Tesla, Inc. $TSLA

Great Waters Wealth Management grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% in the second quarter, HoldingsChannel.com reports. The fund owned 3,709 shares of the electric vehicle producer’s stock after acquiring an additional 91 shares during the quarter. Great Waters Wealth Management’s holdings in Tesla were worth $1,178,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Acorn Wealth Advisors LLC grew its holdings in Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after acquiring an additional 36 shares during the period. Solutions 4 Wealth Ltd grew its stake in shares of Tesla by 2.0% in the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer’s stock valued at $470,000 after buying an additional 36 shares during the period. ACT Wealth Management LLC grew its stake in shares of Tesla by 0.7% in the 2nd quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer’s stock valued at $1,717,000 after buying an additional 36 shares during the period. Capital Management Associates Inc grew its stake in shares of Tesla by 3.4% in the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock valued at $302,000 after buying an additional 38 shares during the period. Finally, Graney & King LLC grew its stake in shares of Tesla by 18.4% in the 1st quarter. Graney & King LLC now owns 245 shares of the electric vehicle producer’s stock valued at $63,000 after buying an additional 38 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Up 2.2%

Shares of Tesla stock opened at $426.07 on Friday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The business has a 50-day moving average of $340.68 and a two-hundred day moving average of $308.35. The company has a market capitalization of $1.42 trillion, a P/E ratio of 246.28, a price-to-earnings-growth ratio of 14.86 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm’s revenue was down 11.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on TSLA shares. HSBC restated a “reduce” rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. UBS Group set a $290.00 target price on Tesla in a research note on Monday, June 30th. Wedbush restated an “outperform” rating and issued a $500.00 target price on shares of Tesla in a research note on Monday, September 15th. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Finally, Benchmark restated a “buy” rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, twelve have issued a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $317.70.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at $1,735,080.36. This represents a 40.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 over the last three months. Company insiders own 20.70% of the company’s stock.

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.