Marietta Wealth Management LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

Marietta Wealth Management LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,547 shares of the electric vehicle producer’s stock, valued at approximately $405,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TSLA. Sound Income Strategies LLC raised its stake in Tesla by 87.2% in the 1st quarter. Sound Income Strategies LLC now owns 9,727 shares of the electric vehicle producer’s stock valued at $1,710,000 after acquiring an additional 4,530 shares during the period. Brookstone Capital Management raised its holdings in Tesla by 19.1% in the 1st quarter. Brookstone Capital Management now owns 117,384 shares of the electric vehicle producer’s stock valued at $20,635,000 after acquiring an additional 18,844 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Tesla during the first quarter worth approximately $79,000. Sovereign Financial Group Inc. grew its position in shares of Tesla by 5.2% in the first quarter. Sovereign Financial Group Inc. now owns 2,076 shares of the electric vehicle producer’s stock valued at $365,000 after purchasing an additional 102 shares during the last quarter. Finally, GoalVest Advisory LLC increased its stake in shares of Tesla by 7,111.9% during the first quarter. GoalVest Advisory LLC now owns 7,861 shares of the electric vehicle producer’s stock worth $1,382,000 after purchasing an additional 7,752 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 66,364 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $18,696,600. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the sale, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,661 shares of company stock worth $16,663,291 in the last ninety days. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TSLA shares. Morgan Stanley reissued an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research report on Thursday, October 3rd. TD Cowen increased their target price on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and lifted their price target for the company from $147.00 to $197.00 in a research report on Friday, July 12th. Barclays reduced their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 25th. Finally, Piper Sandler lifted their price objective on Tesla from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $211.63.

Get Our Latest Stock Analysis on TSLA

Tesla Stock Performance

TSLA stock opened at $217.97 on Wednesday. The firm has a market cap of $695.15 billion, a PE ratio of 55.60, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29. The stock has a 50-day moving average price of $228.30 and a 200-day moving average price of $206.36. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00.

Tesla (NASDAQ:TSLA – Get Free Report) last released its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The company had revenue of $25.50 billion for the quarter, compared to analyst estimates of $24.38 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. The firm’s revenue was up 2.3% on a year-over-year basis. As a group, equities research analysts expect that Tesla, Inc. will post 1.75 earnings per share for the current year.

About Tesla

(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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