Future Financial Wealth Managment LLC Grows Position in Tesla, Inc. $TSLA

Future Financial Wealth Managment LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 51.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,089 shares of the electric vehicle producer’s stock after acquiring an additional 370 shares during the quarter. Future Financial Wealth Managment LLC’s holdings in Tesla were worth $346,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Means Investment CO. Inc. grew its stake in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after buying an additional 6,323 shares in the last quarter. Focus Financial Network Inc. lifted its holdings in shares of Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after acquiring an additional 670 shares during the last quarter. Siren L.L.C. purchased a new position in Tesla in the first quarter worth about $2,332,000. Zuckerman Investment Group LLC raised its position in Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after purchasing an additional 826 shares during the period. Finally, Keystone Global Partners LLC bought a new stake in shares of Tesla in the 1st quarter valued at approximately $594,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several analyst reports. Robert W. Baird raised Tesla from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Piper Sandler boosted their price objective on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. The Goldman Sachs Group raised their target price on shares of Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a report on Friday. Argus reiterated a “hold” rating on shares of Tesla in a report on Monday, June 9th. Finally, UBS Group reissued a “sell” rating and issued a $215.00 price objective on shares of Tesla in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $343.43.

Tesla Price Performance

TSLA opened at $429.83 on Monday. The firm has a market capitalization of $1.43 trillion, a PE ratio of 248.46, a price-to-earnings-growth ratio of 14.93 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The business’s 50-day moving average is $364.02 and its two-hundred day moving average is $322.58. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly 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 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 analysts’ expectations of $23.18 billion. During the same period in the previous year, the company posted $0.52 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction dated 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 $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was 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 directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 204,606 shares of company stock valued at $76,188,902. 19.90% of the stock is currently owned by insiders.

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.