Angeles Wealth Management LLC Buys 1,605 Shares of Tesla, Inc. (NASDAQ:TSLA)

Angeles Wealth Management LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,288 shares of the electric vehicle producer’s stock after purchasing an additional 1,605 shares during the quarter. Angeles Wealth Management LLC’s holdings in Tesla were worth $1,442,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. Bank & Trust Co bought a new stake in Tesla during the 2nd quarter worth approximately $25,000. OLD Point Trust & Financial Services N A bought a new stake in Tesla during the 4th quarter worth approximately $37,000. Kessler Investment Group LLC grew its holdings in Tesla by 35.9% during the 2nd quarter. Kessler Investment Group LLC now owns 193 shares of the electric vehicle producer’s stock worth $38,000 after acquiring an additional 51 shares during the last quarter. Aspect Partners LLC grew its holdings in Tesla by 121.3% during the 2nd quarter. Aspect Partners LLC now owns 208 shares of the electric vehicle producer’s stock worth $41,000 after acquiring an additional 114 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in Tesla during the 2nd quarter worth approximately $42,000. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on TSLA. Argus reissued a “buy” rating and set a $286.00 target price on shares of Tesla in a report on Friday, July 26th. Cantor Fitzgerald restated a “neutral” rating and issued a $245.00 price target on shares of Tesla in a research report on Monday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $295.00 price target on shares of Tesla in a research report on Tuesday. Canaccord Genuity Group boosted their price target on shares of Tesla from $222.00 to $254.00 and gave the stock a “buy” rating in a research report on Wednesday, July 3rd. Finally, Robert W. Baird restated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $209.03.

Tesla Stock Performance

Shares of TSLA stock opened at $226.17 on Wednesday. The firm has a market capitalization of $722.53 billion, a PE ratio of 57.70, a price-to-earnings-growth ratio of 5.57 and a beta of 2.29. The firm has a fifty day simple moving average of $224.49 and a two-hundred day simple moving average of $193.96. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $278.98.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The firm had revenue of $25.50 billion during the quarter, compared to the consensus estimate of $24.38 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s revenue was up 2.3% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 66,364 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $18,696,600. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The disclosure for this sale can be found here. Company insiders own 25.10% of the company’s stock.

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.