Rockline Wealth Management LLC Increases Holdings in Tesla, Inc. $TSLA

Rockline Wealth Management LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 11.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,485 shares of the electric vehicle producer’s stock after purchasing an additional 1,362 shares during the period. Rockline Wealth Management LLC’s holdings in Tesla were worth $4,284,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Arcadia Investment Management Corp MI bought a new position in Tesla in the first quarter worth approximately $27,000. Chelsea Counsel Co. boosted its position in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 40 shares during the last quarter. Centennial Bank AR raised its position in Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after buying an additional 100 shares during the last quarter. LGT Financial Advisors LLC acquired a new stake in shares of Tesla in the second quarter worth $29,000. Finally, Compass Wealth Management LLC raised its stake in shares of Tesla by 360.0% during the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TSLA. UBS Group set a $247.00 price objective on shares of Tesla in a report on Monday, October 6th. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. Canaccord Genuity Group cut their target price on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Thursday, October 23rd. Finally, Cantor Fitzgerald set a $510.00 price objective on Tesla and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have issued a Hold rating and eleven have issued a Sell rating to the company’s stock. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $390.27.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on 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 completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last ninety days. Company insiders own 19.90% of the company’s stock.

Tesla Stock Up 2.6%

TSLA stock opened at $468.37 on Tuesday. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The firm has a fifty day moving average price of $412.95 and a two-hundred day moving average price of $350.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The firm has a market cap of $1.56 trillion, a price-to-earnings ratio of 312.25, a PEG ratio of 16.84 and a beta of 2.08.

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