TCI Wealth Advisors Inc. Buys 273 Shares of Tesla, Inc. $TSLA

TCI Wealth Advisors Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,362 shares of the electric vehicle producer’s stock after acquiring an additional 273 shares during the period. TCI Wealth Advisors Inc.’s holdings in Tesla were worth $1,703,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Tesla by 1.5% during 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 during the period. Goldman Sachs Group Inc. grew its stake in 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after buying an additional 849,091 shares in the last quarter. Amundi grew its stake in Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after buying an additional 2,211,300 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TSLA shares. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. UBS Group reiterated a “sell” rating on shares of Tesla in a research note on Monday, September 22nd. Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $320.00 to $548.00 in a research note on Friday, September 19th. Mizuho lifted their price objective on shares of Tesla from $375.00 to $450.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, CICC Research raised their price target on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and nine have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $332.33.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 208,606 shares of company stock valued at $77,360,462. Insiders own 19.90% of the company’s stock.

Tesla Stock Performance

NASDAQ TSLA opened at $440.40 on Friday. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.46 trillion, a P/E ratio of 254.57, a P/E/G ratio of 14.77 and a beta of 2.06. The company has a fifty day moving average of $352.05 and a 200-day moving average of $314.42.

Tesla (NASDAQ:TSLA) last posted 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the firm posted $0.52 earnings per share. The business’s revenue was down 11.8% on a year-over-year basis. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS 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.