Tesla, Inc. $TSLA Shares Bought by VCI Wealth Management LLC

VCI Wealth Management LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,748 shares of the electric vehicle producer’s stock after buying an additional 317 shares during the period. Tesla accounts for about 0.9% of VCI Wealth Management LLC’s portfolio, making the stock its 26th largest holding. VCI Wealth Management LLC’s holdings in Tesla were worth $2,461,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TSLA. Klingman & Associates LLC boosted its stake in shares of Tesla by 27.4% in the second quarter. Klingman & Associates LLC now owns 6,432 shares of the electric vehicle producer’s stock worth $2,043,000 after acquiring an additional 1,382 shares during the last quarter. Phoenix Financial Ltd. lifted its holdings in Tesla by 14.5% in the 2nd quarter. Phoenix Financial Ltd. now owns 68,090 shares of the electric vehicle producer’s stock valued at $21,653,000 after purchasing an additional 8,632 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its stake in Tesla by 10.9% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 12,862 shares of the electric vehicle producer’s stock worth $4,086,000 after purchasing an additional 1,260 shares during the last quarter. Canvas Wealth Advisors LLC grew its holdings in shares of Tesla by 3.1% during the second quarter. Canvas Wealth Advisors LLC now owns 40,255 shares of the electric vehicle producer’s stock worth $13,107,000 after buying an additional 1,217 shares in the last quarter. Finally, Princeton Global Asset Management LLC lifted its stake in shares of Tesla by 37.3% in the second quarter. Princeton Global Asset Management LLC now owns 829 shares of the electric vehicle producer’s stock worth $263,000 after buying an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly 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 disclosure for this sale can be found here. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last quarter. 19.90% of the stock is owned by insiders.

Tesla Trading Up 1.8%

TSLA opened at $447.43 on Tuesday. The business’s 50-day simple moving average is $389.71 and its 200-day simple moving average is $335.51. Tesla, Inc. has a one year low of $212.11 and a one year 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 cap of $1.49 trillion, a P/E ratio of 258.63, a PEG ratio of 15.79 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last announced 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). 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 analyst estimates of $23.18 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. Tesla’s revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on TSLA. Robert W. Baird raised shares of Tesla from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $320.00 to $548.00 in a research note on Friday, September 19th. Royal Bank Of Canada boosted their price objective on Tesla from $325.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Benchmark reaffirmed a “buy” rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. UBS Group set a $247.00 price target on shares of Tesla in a research report on Monday, October 6th. Finally, The Goldman Sachs Group raised their price objective on shares of Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $363.54.

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.