Narus Financial Partners LLC Purchases 538 Shares of Tesla, Inc. $TSLA

Narus Financial Partners LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 58.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,462 shares of the electric vehicle producer’s stock after buying an additional 538 shares during the quarter. Narus Financial Partners LLC’s holdings in Tesla were worth $464,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC lifted 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 valued at $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank lifted 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 valued at $25,000 after acquiring an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla during the 1st quarter worth approximately $27,000. Newton One Investments LLC raised its stake in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares in the last quarter. Finally, Chelsea Counsel Co. raised its stake in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA opened at $426.07 on Monday. The firm has a market cap 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. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. 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 business’s fifty day moving average is $340.68 and its 200-day moving average is $308.67.

Tesla (NASDAQ:TSLA) last released its 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 company 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 revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on TSLA shares. Canaccord Genuity Group upped their price objective on Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Morgan Stanley reiterated an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research note on Friday, September 5th. Stifel Nicolaus set a $440.00 price objective on Tesla in a research note on Friday, September 5th. Piper Sandler reiterated an “overweight” rating and set a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Finally, Wedbush reiterated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research note on Monday, September 15th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $317.70.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm’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 sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,606 shares of company stock valued at $77,360,462. 19.90% 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.