Amplius Wealth Advisors LLC Raises Stock Position in Tesla, Inc. $TSLA

Amplius Wealth Advisors LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 2.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 1,622 shares of the electric vehicle producer’s stock after buying an additional 36 shares during the period. Amplius Wealth Advisors LLC’s holdings in Tesla were worth $515,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla during the 1st quarter worth $27,000. Chelsea Counsel Co. boosted its stake in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 40 shares during the last quarter. Centennial Bank AR boosted its stake in shares of Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Tesla during the 2nd quarter worth $29,000. Finally, Compass Wealth Management LLC boosted its stake in shares of Tesla by 360.0% during the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer’s stock worth $30,000 after acquiring an additional 90 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Down 4.6%

Shares of TSLA stock opened at $440.10 on Friday. The stock has a market cap of $1.46 trillion, a P/E ratio of 293.40, a PEG ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $408.19 and its two-hundred day simple moving average is $346.05.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. UBS Group set a $247.00 price target on shares of Tesla in a research note on Monday, October 6th. Wedbush reiterated an “outperform” rating and set a $600.00 price target on shares of Tesla in a research note on Monday, October 20th. Truist Financial lifted their target price on shares of Tesla from $280.00 to $406.00 and gave the company a “hold” rating in a research note on Thursday, October 23rd. CICC Research lifted their target price on shares of Tesla from $360.00 to $450.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. Finally, TD Cowen lifted their target price on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and eleven have issued a Sell rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $388.51.

Insiders Place Their Bets

In other Tesla 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 sale, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 202,606 shares of company stock worth $75,588,902 in the last 90 days. 19.90% of the stock is currently owned by corporate insiders.

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.