Philip James Wealth Mangement LLC Grows Stake in Tesla, Inc. $TSLA

Philip James Wealth Mangement LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 5.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 8,217 shares of the electric vehicle producer’s stock after acquiring an additional 415 shares during the period. Philip James Wealth Mangement LLC’s holdings in Tesla were worth $2,610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. boosted its position in shares of Tesla by 1.5% during the first 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 position in 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 acquiring an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 acquiring an additional 849,091 shares during the last quarter. Amundi grew its position in 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 acquiring an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. grew its position in 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 acquiring an additional 2,211,300 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on TSLA shares. JPMorgan Chase & Co. upped their price objective on Tesla from $115.00 to $150.00 in a research report on Friday. Argus reaffirmed a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Stifel Nicolaus set a $440.00 price target on shares of Tesla in a research note on Friday, September 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tesla in a research note on Saturday, September 27th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $343.43.

Tesla Stock Performance

Shares of TSLA stock opened at $429.83 on Friday. The firm has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.46, a PEG ratio of 15.15 and a beta of 2.08. The company’s 50 day moving average is $364.02 and its 200 day moving average is $321.39. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly 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). The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 20,000 shares of the company’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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $292.89, for a total value of $1,171,560.00. Following the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at approximately $1,735,080.36. The trade was a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 208,606 shares of company stock valued at $77,360,462. Corporate 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.