Turtle Creek Wealth Advisors LLC Makes New $2.49 Million Investment in Tesla, Inc. $TSLA

Turtle Creek Wealth Advisors LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the second quarter, Holdings Channel.com reports. The fund purchased 7,830 shares of the electric vehicle producer’s stock, valued at approximately $2,487,000.

A number of other institutional investors also recently added to or reduced their stakes in TSLA. Means Investment CO. Inc. grew its holdings in Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after acquiring an additional 6,323 shares in the last quarter. Siren L.L.C. acquired a new position in Tesla during the 1st quarter worth approximately $2,332,000. Zuckerman Investment Group LLC grew its holdings in Tesla by 6.9% during the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock worth $3,304,000 after acquiring an additional 826 shares in the last quarter. Keystone Global Partners LLC acquired a new position in Tesla during the 1st quarter worth approximately $594,000. Finally, Strs Ohio acquired a new position in Tesla during the 1st quarter worth approximately $205,495,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 over the last three months. 19.90% of the stock is currently owned by company insiders.

Tesla Price Performance

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

Tesla (NASDAQ:TSLA) last issued 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 return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the business earned $0.52 earnings per share. Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on TSLA. Guggenheim reiterated a “sell” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Glj Research reiterated a “sell” rating on shares of Tesla in a research note on Thursday, July 24th. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and increased their price target for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $355.00 price target on shares of Tesla in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $363.54.

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.