Elyxium Wealth LLC Raises Holdings in Tesla, Inc. $TSLA

Elyxium Wealth LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 13.6% during the second quarter, Holdings Channel reports. The institutional investor owned 7,712 shares of the electric vehicle producer’s stock after acquiring an additional 925 shares during the quarter. Elyxium Wealth LLC’s holdings in Tesla were worth $2,450,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its position in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new position in shares of Tesla in the first quarter valued at approximately $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its position in shares of Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares in the last quarter. Amundi lifted its position in shares of Tesla by 29.4% in the first 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 in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Tesla by 1.5% in 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 acquiring an additional 3,694,524 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSLA shares. President Capital raised their target price on Tesla from $373.00 to $529.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $500.00 price target on shares of Tesla in a report on Thursday, October 23rd. Evercore ISI increased their price target on Tesla from $235.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. Benchmark reaffirmed a “buy” rating on shares of Tesla in a report on Thursday, October 23rd. Finally, Cantor Fitzgerald set a $510.00 price target on Tesla and gave the company an “overweight” rating in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and eleven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $390.27.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction on Tuesday, August 26th. The stock was 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 in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the transaction, the chief financial officer 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 202,606 shares of company stock worth $75,588,902 over the last ninety days. Company insiders own 19.90% of the company’s stock.

Tesla Trading Up 2.6%

TSLA opened at $468.37 on Tuesday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The business has a fifty day simple moving average of $412.95 and a 200-day simple moving average of $350.47. The firm has a market cap of $1.56 trillion, a P/E ratio of 312.25, a P/E/G ratio of 16.84 and a beta of 2.08. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released 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. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. During the same period last year, the business posted $0.72 earnings per share. The company’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities analysts expect 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.