True Wealth Design LLC Acquires 154 Shares of Tesla, Inc. $TSLA

True Wealth Design LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 80.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 345 shares of the electric vehicle producer’s stock after purchasing an additional 154 shares during the quarter. True Wealth Design LLC’s holdings in Tesla were worth $110,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Chelsea Counsel Co. increased its position in Tesla by 59.7% during the first 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 period. LGT Financial Advisors LLC acquired a new stake in Tesla in the 2nd quarter worth $29,000. Evergreen Private Wealth LLC increased its holdings in shares of Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares during the period. Graybill Wealth Management LTD. acquired a new position in shares of Tesla during the first quarter valued at about $36,000. Finally, Pacific Center for Financial Services lifted its stake in shares of Tesla by 44.7% in the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock valued at $39,000 after buying an additional 46 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

NASDAQ TSLA opened at $429.52 on Friday. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54. The company has a 50 day moving average of $420.97 and a 200-day moving average of $354.73. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.43 trillion, a price-to-earnings ratio of 286.35, a PEG ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last announced its earnings results on Thursday, October 23rd. 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 for the quarter, compared to the consensus estimate of $24.98 billion. During the same period in the previous year, the business earned $0.72 EPS. Tesla’s revenue was up 11.6% compared to the same quarter last year. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. Insiders own 19.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on TSLA. Barclays reaffirmed a “negative” rating and issued a $350.00 price target (up previously from $275.00) on shares of Tesla in a report on Thursday, October 16th. Cantor Fitzgerald set a $510.00 target price on Tesla and gave the company an “overweight” rating in a research note on Thursday, October 23rd. The Goldman Sachs Group decreased their price target on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research note on Thursday, October 23rd. Truist Financial raised their price objective on shares of Tesla from $280.00 to $406.00 and gave the stock a “hold” rating in a report on Thursday, October 23rd. Finally, China Renaissance upped their target price on shares of Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have issued a Hold rating and eleven have assigned a Sell rating to the company. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average target price of $391.08.

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.