GDS Wealth Management Grows Stock Position in Tesla, Inc. $TSLA

GDS Wealth Management grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 48.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,209 shares of the electric vehicle producer’s stock after acquiring an additional 722 shares during the period. GDS Wealth Management’s holdings in Tesla were worth $702,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Brighton Jones LLC increased its position in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares in the last quarter. Bison Wealth LLC increased its holdings in Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after buying an additional 3,558 shares during the last quarter. GW&K Investment Management LLC raised its stake in Tesla by 4.9% during the first quarter. GW&K Investment Management LLC now owns 1,702 shares of the electric vehicle producer’s stock valued at $441,000 after buying an additional 80 shares in the last quarter. Finally, Obermeyer Wealth Partners lifted its holdings in Tesla by 6.6% during the 1st quarter. Obermeyer Wealth Partners now owns 1,353 shares of the electric vehicle producer’s stock worth $351,000 after buying an additional 84 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $403.82 on Thursday. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The company has a market cap of $1.34 trillion, a PE ratio of 269.21, a P/E/G ratio of 16.84 and a beta of 2.06. The stock has a 50 day simple moving average of $433.12 and a 200-day simple moving average of $363.32. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The firm’s revenue was up 11.6% compared to the same quarter last year. During the same period last year, the firm earned $0.72 EPS. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on TSLA. Dbs Bank raised Tesla to a “hold” rating in a research report on Wednesday, November 5th. HSBC reissued a “reduce” rating on shares of Tesla in a report on Monday. Cantor Fitzgerald set a $510.00 price objective on shares of Tesla and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Stifel Nicolaus increased their price objective on shares of Tesla from $483.00 to $508.00 and gave the stock a “buy” rating in a research note on Monday. Finally, CICC Research lifted their target price on Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $394.31.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by corporate insiders.

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.