Redwood Wealth Management Group LLC Buys 215 Shares of Tesla, Inc. $TSLA

Redwood Wealth Management Group LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,936 shares of the electric vehicle producer’s stock after purchasing an additional 215 shares during the period. Redwood Wealth Management Group LLC’s holdings in Tesla were worth $1,568,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. First Merchants Corp boosted its holdings in shares of Tesla by 1.3% during the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after purchasing an additional 31 shares during the last quarter. Alaska Wealth Advisors boosted its holdings in shares of Tesla by 3.4% during the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock valued at $313,000 after purchasing an additional 32 shares during the last quarter. KWB Wealth boosted its holdings in shares of Tesla by 2.4% during the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock valued at $439,000 after purchasing an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. boosted its holdings in shares of Tesla by 3.6% during the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock valued at $310,000 after purchasing an additional 34 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its position in shares of Tesla by 0.7% during the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after buying an additional 34 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent research reports. Melius Research set a $520.00 target price on shares of Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. William Blair restated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Glj Research restated a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Tesla from $435.00 to $440.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Finally, Benchmark reissued a “buy” rating on shares of Tesla in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and eleven have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $390.27.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by company insiders.

Tesla Stock Performance

Tesla stock opened at $456.56 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The firm has a market capitalization of $1.52 trillion, a P/E ratio of 304.37, a price-to-earnings-growth ratio of 16.84 and a beta of 2.08. The company’s 50-day moving average is $410.52 and its 200 day moving average is $348.12.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company posted $0.72 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.