PUREfi Wealth LLC Takes Position in Tesla, Inc. $TSLA

PUREfi Wealth LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 851 shares of the electric vehicle producer’s stock, valued at approximately $270,000.

A number of other institutional investors have also recently modified their holdings of the business. Luken Investment Analytics LLC grew its position in shares of Tesla by 60.0% during the 2nd quarter. Luken Investment Analytics LLC now owns 144 shares of the electric vehicle producer’s stock valued at $46,000 after acquiring an additional 54 shares during the period. Cullinan Associates Inc. boosted its holdings in Tesla by 3.6% in the 2nd quarter. Cullinan Associates Inc. now owns 11,600 shares of the electric vehicle producer’s stock worth $3,685,000 after buying an additional 400 shares during the last quarter. Petros Family Wealth LLC boosted its holdings in Tesla by 4.7% in the 2nd quarter. Petros Family Wealth LLC now owns 3,095 shares of the electric vehicle producer’s stock worth $983,000 after buying an additional 140 shares during the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in Tesla by 5.4% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 49,795 shares of the electric vehicle producer’s stock worth $15,818,000 after buying an additional 2,573 shares during the last quarter. Finally, Marks Group Wealth Management Inc boosted its holdings in Tesla by 11.0% in the 2nd quarter. Marks Group Wealth Management Inc now owns 1,437 shares of the electric vehicle producer’s stock worth $456,000 after buying an additional 142 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TSLA. Weiss Ratings reiterated a “hold (c)” rating on shares of Tesla in a report on Saturday, September 27th. Glj Research reiterated a “sell” rating on shares of Tesla in a report on Thursday, July 24th. JPMorgan Chase & Co. lifted their price objective on Tesla from $115.00 to $150.00 in a report on Friday. William Blair reiterated a “market perform” rating on shares of Tesla in a report on Friday, September 5th. Finally, Stifel Nicolaus set a $440.00 target price on shares of Tesla in a research note on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $344.40.

Tesla Trading Up 5.4%

TSLA opened at $453.25 on Tuesday. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The stock has a market capitalization of $1.51 trillion, a PE ratio of 261.99, a P/E/G ratio of 14.93 and a beta of 2.08. The business’s 50 day moving average price is $366.57 and its 200 day moving average price is $324.02. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

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

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’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 value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James R. Murdoch sold 120,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the completion of the transaction, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% 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.