Tesla, Inc. $TSLA Shares Purchased by Activest Wealth Management

Activest Wealth Management boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 10.0% in the second quarter, Holdings Channel.com reports. The firm owned 11,120 shares of the electric vehicle producer’s stock after acquiring an additional 1,007 shares during the quarter. Tesla makes up about 0.9% of Activest Wealth Management’s holdings, making the stock its 15th largest position. Activest Wealth Management’s holdings in Tesla were worth $3,532,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Werba Rubin Papier Wealth Management increased its holdings in Tesla by 15.0% in the second quarter. Werba Rubin Papier Wealth Management now owns 5,969 shares of the electric vehicle producer’s stock valued at $1,896,000 after buying an additional 778 shares in the last quarter. Latitude Advisors LLC increased its holdings in Tesla by 4.2% in the second quarter. Latitude Advisors LLC now owns 2,085 shares of the electric vehicle producer’s stock valued at $662,000 after buying an additional 84 shares in the last quarter. Horst & Graben Wealth Management LLC increased its holdings in Tesla by 1.7% in the second quarter. Horst & Graben Wealth Management LLC now owns 17,381 shares of the electric vehicle producer’s stock valued at $5,521,000 after buying an additional 284 shares in the last quarter. Omnia Family Wealth LLC increased its holdings in Tesla by 20.3% in the second quarter. Omnia Family Wealth LLC now owns 3,908 shares of the electric vehicle producer’s stock valued at $1,241,000 after buying an additional 660 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in Tesla in the second quarter valued at about $2,487,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, 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 sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TSLA. Deutsche Bank Aktiengesellschaft increased their target price on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a report on Friday, September 26th. Melius assumed coverage on shares of Tesla in a report on Monday. They issued a “buy” rating and a $520.00 target price for the company. Dbs Bank raised their price objective on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Evercore ISI raised their price objective on shares of Tesla from $235.00 to $300.00 and gave the stock an “in-line” rating in a research note on Monday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have issued a Hold rating and ten have assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $363.54.

Tesla Price Performance

TSLA stock opened at $428.75 on Friday. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54. The stock’s fifty day simple moving average is $385.34 and its 200-day simple moving average is $332.07. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 247.83, a price-to-earnings-growth ratio of 15.64 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 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 quarter last year, the business earned $0.52 EPS. Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

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.