Tiedemann Advisors LLC Has $5.31 Million Position in Tesla Inc (NASDAQ:TSLA)

Tiedemann Advisors LLC lifted its stake in shares of Tesla Inc (NASDAQ:TSLA) by 778.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,467 shares of the electric vehicle producer’s stock after acquiring an additional 13,706 shares during the period. Tiedemann Advisors LLC’s holdings in Tesla were worth $5,305,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Northwest Wealth Management LLC bought a new stake in shares of Tesla in the 2nd quarter worth $103,000. Institutional & Family Asset Management LLC bought a new stake in shares of Tesla in the 1st quarter worth $114,000. Stelac Advisory Services LLC bought a new stake in shares of Tesla in the 2nd quarter worth $114,000. BerganKDV Wealth Management LLC bought a new stake in shares of Tesla in the 2nd quarter worth $124,000. Finally, Wagner Wealth Management LLC bought a new stake in shares of Tesla in the 1st quarter worth $152,000. Institutional investors own 62.03% of the company’s stock.

In other news, insider Jerome M. Guillen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $306.00, for a total value of $306,000.00. Following the transaction, the insider now owns 8,598 shares in the company, valued at $2,630,988. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 1,875 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $306.00, for a total transaction of $573,750.00. Following the completion of the transaction, the director now owns 150,208 shares in the company, valued at approximately $45,963,648. The disclosure for this sale can be found here. 22.80% of the stock is owned by company insiders.

TSLA has been the subject of several recent analyst reports. KeyCorp reiterated a “hold” rating on shares of Tesla in a research note on Tuesday, June 12th. Vertical Group reduced their target price on shares of Tesla from $99.00 to $93.00 and set a “sell” rating for the company in a research note on Thursday, June 14th. BidaskClub upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research report on Friday, June 15th. Berenberg Bank set a $500.00 price target on shares of Tesla and gave the company a “buy” rating in a research report on Monday, June 18th. Finally, Oppenheimer restated a “neutral” rating on shares of Tesla in a research report on Thursday, June 21st. Fifteen equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $306.59.

Shares of TSLA stock traded down $5.92 during trading on Wednesday, hitting $256.88. The company had a trading volume of 12,799,500 shares, compared to its average volume of 8,691,174. The company has a current ratio of 0.73, a quick ratio of 0.37 and a debt-to-equity ratio of 2.01. The stock has a market cap of $45.17 billion, a price-to-earnings ratio of -22.89 and a beta of 0.84. Tesla Inc has a 52 week low of $244.59 and a 52 week high of $387.46.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, August 1st. The electric vehicle producer reported ($3.06) EPS for the quarter, beating analysts’ consensus estimates of ($3.61) by $0.55. Tesla had a negative net margin of 19.89% and a negative return on equity of 50.84%. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period last year, the business earned ($1.33) earnings per share. The business’s quarterly revenue was up 43.5% on a year-over-year basis. As a group, sell-side analysts forecast that Tesla Inc will post -10.77 EPS for the current fiscal year.

Tesla Profile

Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers sedans and sport utility vehicles.

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Tiedemann Advisors LLC Has $5.31 Million Position in Tesla Inc (NASDAQ:TSLA)

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