Tesla, Inc. $TSLA Stake Increased by Wealth Management Associates Inc.

Wealth Management Associates Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 8.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,405 shares of the electric vehicle producer’s stock after buying an additional 108 shares during the period. Wealth Management Associates Inc.’s holdings in Tesla were worth $446,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Arcadia Investment Management Corp MI acquired a new position in Tesla in the first quarter worth $27,000. Chelsea Counsel Co. boosted its holdings in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the period. Centennial Bank AR boosted its holdings in Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after purchasing an additional 100 shares during the period. LGT Financial Advisors LLC acquired a new position in Tesla in the second quarter worth $29,000. Finally, Compass Wealth Management LLC boosted its holdings in Tesla by 360.0% in the first quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after purchasing an additional 90 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA stock opened at $460.55 on Wednesday. The company has a market capitalization of $1.53 trillion, a P/E ratio of 307.03, a PEG ratio of 16.51 and a beta of 2.08. The company has a 50-day simple moving average of $403.03 and a 200 day simple moving average of $343.93. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the company’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company’s stock, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 202,606 shares of company stock valued at $75,588,902 over the last 90 days. 19.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TSLA shares. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Melius Research set a $520.00 price objective on shares of Tesla and gave the stock a “buy” rating in a report on Monday, October 13th. William Blair reissued a “market perform” rating on shares of Tesla in a report on Friday, September 5th. TD Cowen boosted their price target on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, UBS Group set a $247.00 price target on shares of Tesla in a report on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, twelve have given a Hold rating and eleven have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $381.00.

Tesla Company 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.