Exencial Wealth Advisors LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Exencial Wealth Advisors LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 17.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 17,082 shares of the electric vehicle producer’s stock after acquiring an additional 2,494 shares during the period. Exencial Wealth Advisors LLC’s holdings in Tesla were worth $4,427,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Rinkey Investments lifted its position in shares of Tesla by 3.5% in the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock worth $347,000 after buying an additional 29 shares in the last quarter. True Wealth Design LLC increased its stake in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Aldebaran Financial Inc. raised its holdings in shares of Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer’s stock worth $490,000 after acquiring an additional 35 shares in the last quarter. Acorn Wealth Advisors LLC boosted its position in shares of Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock valued at $493,000 after acquiring an additional 36 shares during the last quarter. Finally, Capital Management Associates Inc grew its holdings in shares of Tesla by 3.4% in the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock valued at $302,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 6,000 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. The trade was a 75.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 606,724 shares of company stock valued at $215,376,831. Company insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $319.91 on Thursday. 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 company has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 184.92, a price-to-earnings-growth ratio of 10.85 and a beta of 2.33. The firm has a 50 day moving average of $319.80 and a 200 day moving average of $309.56. Tesla, Inc. has a 52 week low of $191.48 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share 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 company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter last year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

TSLA has been the subject of several research reports. Cfra Research lowered shares of Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Truist Financial set a $280.00 price target on shares of Tesla in a report on Tuesday, April 22nd. Royal Bank Of Canada reiterated an “overweight” rating on shares of Tesla in a research report on Tuesday, July 29th. Mizuho decreased their price objective on Tesla from $390.00 to $375.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 8th. Finally, Guggenheim reiterated a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $303.31.

Tesla Company 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.