Impact Partnership Wealth LLC Has $1.74 Million Position in Tesla, Inc. $TSLA

Impact Partnership Wealth LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,466 shares of the electric vehicle producer’s stock after buying an additional 262 shares during the period. Impact Partnership Wealth LLC’s holdings in Tesla were worth $1,736,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. LGT Financial Advisors LLC bought a new position in Tesla during the second quarter worth $29,000. Arcadia Investment Management Corp MI bought a new position in shares of Tesla in the 1st quarter worth about $27,000. Chelsea Counsel Co. lifted its stake in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Evergreen Private Wealth LLC boosted its position in shares of Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares in the last quarter. Finally, Centennial Bank AR grew its stake in Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after purchasing an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were 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 $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last quarter. Insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Wall Street Zen raised shares of Tesla from a “sell” rating to a “hold” rating in a research note on Saturday, October 25th. UBS Group set a $247.00 price objective on shares of Tesla in a research report on Monday, October 6th. William Blair reaffirmed a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. Finally, BNP Paribas Exane started coverage on Tesla in a report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and eleven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $388.51.

Tesla Stock Performance

Shares of Tesla stock opened at $461.51 on Thursday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $405.79 and a 200-day moving average price of $345.40. The company has a market cap of $1.53 trillion, a PE ratio of 307.67, a price-to-earnings-growth ratio of 16.81 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.