BXM Wealth LLC Grows Stock Holdings in Tesla, Inc. $TSLA

BXM Wealth LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,806 shares of the electric vehicle producer’s stock after purchasing an additional 68 shares during the quarter. BXM Wealth LLC’s holdings in Tesla were worth $564,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TSLA. Goldman Sachs Group Inc. raised its position in shares of Tesla by 322.1% during 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 during the period. Nuveen LLC purchased a new stake in shares of Tesla during the 1st quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC raised its position in shares of Tesla by 581,880.5% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after buying an additional 6,435,598 shares during the period. Amundi raised its position in shares of Tesla by 29.4% during 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 during the period. Finally, Vanguard Group Inc. raised 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 buying an additional 3,694,524 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $439.31 on Friday. The company has a fifty day simple moving average of $387.54 and a two-hundred day simple moving average of $333.25. The company has a market cap of $1.46 trillion, a price-to-earnings ratio of 253.94, a price-to-earnings-growth ratio of 15.41 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on TSLA. UBS Group set a $247.00 price target on shares of Tesla in a research report on Monday, October 6th. CICC Research boosted their target price on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research report on Thursday, September 18th. China Renaissance reissued a “hold” rating and issued a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. JPMorgan Chase & Co. boosted their target price on Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Finally, TD Cowen boosted their target price on Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $363.54.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction 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 completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s 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 completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last 90 days. Corporate insiders own 19.90% of the company’s stock.

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.