Rezny Wealth Management Inc. Increases Stock Holdings in Tesla, Inc. $TSLA

Rezny Wealth Management Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 6.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,291 shares of the electric vehicle producer’s stock after purchasing an additional 324 shares during the period. Tesla accounts for approximately 0.4% of Rezny Wealth Management Inc.’s holdings, making the stock its 28th biggest holding. Rezny Wealth Management Inc.’s holdings in Tesla were worth $1,681,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC boosted its stake in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after buying an additional 931 shares during the last quarter. Bison Wealth LLC boosted its holdings in Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after purchasing an additional 3,558 shares during the period. Legacy Private Trust Co. boosted its stake in Tesla by 10.4% during the first quarter. Legacy Private Trust Co. now owns 6,477 shares of the electric vehicle producer’s stock worth $1,679,000 after buying an additional 610 shares in the last quarter. Finally, Farmers Trust Co. increased its position in shares of Tesla by 10.8% during the 1st quarter. Farmers Trust Co. now owns 1,249 shares of the electric vehicle producer’s stock worth $324,000 after purchasing an additional 122 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a report on Sunday, July 27th. Guggenheim restated a “sell” rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. Royal Bank Of Canada reaffirmed a “buy” rating on shares of Tesla in a research note on Friday. Bank of America lifted their price target on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Finally, Argus reiterated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and an average target price of $332.33.

Tesla Stock Up 4.0%

Shares of NASDAQ TSLA opened at $440.40 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.46 trillion, a PE ratio of 254.57, a price-to-earnings-growth ratio of 15.36 and a beta of 2.06. The stock’s fifty day simple moving average is $352.05 and its two-hundred day simple moving average is $314.88. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The business’s revenue for the quarter was down 11.8% on a year-over-year basis. As a group, analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated 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 directly owned 9,856 shares in the company, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 208,606 shares of company stock valued at $77,360,462 in the last ninety days. 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.