Silverlake Wealth Management LLC Raises Holdings in Tesla, Inc. $TSLA

Silverlake Wealth Management LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 102.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,524 shares of the electric vehicle producer’s stock after acquiring an additional 2,790 shares during the period. Silverlake Wealth Management LLC’s holdings in Tesla were worth $1,755,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Holos Integrated Wealth LLC raised its holdings in Tesla by 10.8% in the second quarter. Holos Integrated Wealth LLC now owns 309 shares of the electric vehicle producer’s stock valued at $102,000 after buying an additional 30 shares during the period. First Merchants Corp increased its position in shares of Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after acquiring an additional 31 shares in the last quarter. Kaye Capital Management increased its position in shares of Tesla by 3.1% in the second quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer’s stock worth $333,000 after acquiring an additional 31 shares in the last quarter. Spectrum Wealth Advisory Group LLC raised its stake in shares of Tesla by 3.4% in the 2nd quarter. Spectrum Wealth Advisory Group LLC now owns 941 shares of the electric vehicle producer’s stock valued at $299,000 after acquiring an additional 31 shares during the period. Finally, Wambolt & Associates LLC lifted its holdings in shares of Tesla by 1.0% during the 2nd quarter. Wambolt & Associates LLC now owns 3,119 shares of the electric vehicle producer’s stock valued at $938,000 after acquiring an additional 31 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 56,820 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the sale, the director directly owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. The trade was a 3.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the transaction, the chief financial officer directly owned 13,757 shares in the company, valued at approximately $6,107,145.01. This represents a 16.09% decrease in their position. The disclosure for this sale is available in the SEC filing. 19.90% of the stock is owned by company insiders.

Tesla Price Performance

TSLA stock opened at $458.96 on Monday. The stock’s 50 day moving average is $435.52 and its two-hundred day moving average is $376.42. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $488.54. The company has a market capitalization of $1.53 trillion, a PE ratio of 305.97, a P/E/G ratio of 15.50 and a beta of 1.87. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on TSLA. Dbs Bank upgraded Tesla to a “hold” rating in a report on Wednesday, November 5th. Wedbush reiterated an “outperform” rating and issued a $600.00 target price on shares of Tesla in a research note on Wednesday, November 5th. Cowen reiterated a “buy” rating on shares of Tesla in a report on Monday, November 17th. Truist Financial boosted their price target on Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a research report on Thursday, October 23rd. Finally, Melius Research set a $520.00 price objective on shares of Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $399.33.

Tesla 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.