Axxcess Wealth Management LLC Acquires 475 Shares of Tesla, Inc. $TSLA

Axxcess Wealth Management LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,319 shares of the electric vehicle producer’s stock after purchasing an additional 475 shares during the period. Axxcess Wealth Management LLC’s holdings in Tesla were worth $20,337,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Means Investment CO. Inc. lifted its stake in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after purchasing an additional 6,323 shares during the period. Siren L.L.C. bought a new position in shares of Tesla in the first quarter valued at approximately $2,332,000. Zuckerman Investment Group LLC raised its stake in shares of Tesla by 6.9% in 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 acquiring an additional 826 shares during the last quarter. Keystone Global Partners LLC bought a new position in shares of Tesla in the first quarter valued at approximately $594,000. Finally, Strs Ohio bought a new position in shares of Tesla in the first quarter valued at approximately $205,495,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Tesla from $395.00 to $425.00 and gave the company a “neutral” rating in a research note on Friday, October 3rd. Stifel Nicolaus set a $483.00 price target on shares of Tesla and gave the company a “buy” rating in a report on Wednesday, October 8th. Glj Research reissued a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Bank of America raised their price target on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Finally, 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 report on Thursday, October 9th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $363.03.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction 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 completion of the transaction, the director directly 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 disclosure for this sale can be found here. Insiders sold 202,606 shares of company stock valued at $75,588,902 in the last quarter. Company insiders own 19.90% of the company’s stock.

Tesla Price Performance

TSLA opened at $429.24 on Wednesday. The company has a fifty day moving average price of $380.91 and a two-hundred day moving average price of $330.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The firm has a market capitalization of $1.43 trillion, a PE ratio of 248.12, a P/E/G ratio of 15.71 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same period in the prior year, the firm posted $0.52 EPS. Tesla’s revenue was down 11.8% on a year-over-year basis. As a group, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla 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.