FRG Family Wealth Advisors LLC Has $1.27 Million Position in Tesla, Inc. $TSLA

by · The Cerbat Gem

FRG Family Wealth Advisors LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 710.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,881 shares of the electric vehicle producer’s stock after acquiring an additional 4,279 shares during the period. FRG Family Wealth Advisors LLC’s holdings in Tesla were worth $1,265,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the period. Nuveen LLC bought a new stake in Tesla in the 1st quarter valued at $3,247,619,000. GAMMA Investing LLC lifted its position in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares in the last quarter. Vanguard Group Inc. lifted its position in Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Tesla by 54.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer’s stock valued at $2,193,728,000 after acquiring an additional 2,978,026 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TSLA shares. China Renaissance reissued a “hold” rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, June 9th. Mizuho reduced their price target on Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. William Blair cut shares of Tesla from an “outperform” rating to a “market perform” rating in a report on Monday, July 7th. Finally, Wedbush restated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research report on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, fifteen have given a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $303.31.

Get Our Latest Stock Analysis on Tesla

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $333.87 on Friday. The company’s 50 day simple moving average is $323.59 and its 200 day simple moving average is $303.15. The stock has a market capitalization of $1.08 trillion, a price-to-earnings ratio of 192.99, a price-to-earnings-growth ratio of 12.03 and a beta of 2.33. 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, Inc. has a 1 year low of $205.97 and a 1 year high of $488.54.

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

Insider Buying and Selling at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares in the company, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 150,564 shares of company stock worth $51,792,190 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla Company Profile

(Free Report)

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.

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