Purus Wealth Management LLC Acquires 168 Shares of Tesla, Inc. $TSLA

Purus Wealth Management LLC increased its position in Tesla, Inc. (NASDAQ:TSLA) by 2.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,223 shares of the electric vehicle producer’s stock after buying an additional 168 shares during the quarter. Purus Wealth Management LLC’s holdings in Tesla were worth $1,613,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its stake in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 44 shares during the period. First PREMIER Bank increased its stake in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC increased its position in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Tesla during the 1st quarter valued at $27,000. Finally, True Wealth Design LLC increased its position in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. This trade represents a 75.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 599,724 shares of company stock worth $213,126,501 over the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of Tesla stock opened at $320.11 on Friday. The stock has a market cap of $1.03 trillion, a price-to-earnings ratio of 185.03, a PEG ratio of 11.26 and a beta of 2.33. The firm’s 50-day moving average is $320.98 and its 200 day moving average is $303.96. Tesla, Inc. has a 1 year low of $202.59 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 EPS. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSLA. Wedbush reissued an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research report on Monday, August 4th. Bank of America boosted their price objective on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. China Renaissance reissued a “hold” rating and set a $349.00 price objective on shares of Tesla in a research report on Friday, July 25th. HSBC reissued a “reduce” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, July 3rd. Finally, William Blair downgraded shares of Tesla from an “outperform” rating to a “market perform” rating in a research report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fifteen have given a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price 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.