Total Clarity Wealth Management Inc. Boosts Holdings in Tesla, Inc. $TSLA

Total Clarity Wealth Management Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 190.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,415 shares of the electric vehicle producer’s stock after purchasing an additional 3,553 shares during the quarter. Total Clarity Wealth Management Inc.’s holdings in Tesla were worth $1,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. First Merchants Corp increased its holdings in shares of Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after buying an additional 31 shares during the last quarter. KWB Wealth increased its holdings in shares of Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer’s stock worth $439,000 after buying an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. increased its holdings in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after buying an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. increased its holdings in shares of Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock worth $1,622,000 after buying an additional 34 shares during the last quarter. Finally, Acorn Creek Capital LLC increased its holdings in shares of Tesla by 1.6% in the 2nd quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer’s stock worth $697,000 after buying an additional 34 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Down 1.5%

NASDAQ:TSLA opened at $429.24 on Wednesday. The firm has a market cap of $1.43 trillion, a P/E ratio of 248.12, a P/E/G ratio of 15.71 and a beta of 2.08. 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, Inc. has a fifty-two week low of $212.11 and a fifty-two week high of $488.54. The firm has a 50-day simple moving average of $380.91 and a two-hundred day simple moving average of $330.17.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a report on Friday, September 26th. JPMorgan Chase & Co. raised their target price on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Dbs Bank raised their target price on shares of Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. HSBC raised their target price on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Finally, Stifel Nicolaus set a $483.00 target price on shares of Tesla and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $363.03.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction that occurred 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 completion of the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla 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 completion of the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock worth $75,588,902 over the last three months. 19.90% of the stock is currently owned by company insiders.

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.