Angeles Wealth Management LLC Has $3.34 Million Position in Tesla, Inc. $TSLA

Angeles Wealth Management LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,503 shares of the electric vehicle producer’s stock after acquiring an additional 1,358 shares during the period. Angeles Wealth Management LLC’s holdings in Tesla were worth $3,336,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TSLA. Vanguard Group Inc. grew its stake in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after buying an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after buying an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after buying an additional 849,091 shares during the period. Amundi grew its stake in shares of Tesla by 29.4% in the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock valued at $3,832,047,000 after buying an additional 2,211,300 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Tesla stock opened at $439.31 on Friday. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The company’s 50 day moving average price is $387.54 and its two-hundred day moving average price is $333.25. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.46 trillion, a P/E ratio of 253.94, a P/E/G ratio of 15.41 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its 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 firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the business earned $0.52 EPS. Tesla’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’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 approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 202,606 shares of company stock valued at $75,588,902 in the last 90 days. 19.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TSLA shares. Deutsche Bank Aktiengesellschaft raised their target price on Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Stifel Nicolaus set a $483.00 price target on shares of Tesla and gave the company a “buy” rating in a research report on Wednesday, October 8th. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. TD Cowen raised their price target on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research report on Thursday, October 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $355.00 price target on shares of Tesla 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $363.54.

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.