Chokshi & Queen Wealth Advisors Inc Grows Stock Holdings in Tesla, Inc. $TSLA

Chokshi & Queen Wealth Advisors Inc raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 156.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,077 shares of the electric vehicle producer’s stock after acquiring an additional 6,753 shares during the quarter. Tesla comprises 1.8% of Chokshi & Queen Wealth Advisors Inc’s holdings, making the stock its 10th largest position. Chokshi & Queen Wealth Advisors Inc’s holdings in Tesla were worth $2,871,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in TSLA. Brighton Jones LLC increased its holdings in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares during the period. Mascagni Wealth Management Inc. acquired a new position in shares of Tesla during the fourth quarter worth $346,000. Highview Capital Management LLC DE acquired a new position in shares of Tesla during the fourth quarter worth $2,367,000. Finally, Bison Wealth LLC lifted its holdings in Tesla by 52.2% in the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after buying an additional 3,558 shares during the period. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated 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 of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 143,606 shares of company stock valued at $49,581,812 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. UBS Group set a $290.00 target price on shares of Tesla in a report on Monday, June 30th. HSBC reissued a “reduce” rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. Mizuho reduced their price objective on shares of Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research report on Tuesday, July 8th. Bank of America boosted their target price on shares of Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Finally, Canaccord Genuity Group boosted their target price on shares of Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $303.00.

Tesla Price Performance

TSLA stock opened at $346.97 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The firm’s fifty day moving average is $325.50 and its 200 day moving average is $302.26. The firm has a market cap of $1.12 trillion, a P/E ratio of 200.56, a P/E/G ratio of 12.08 and a beta of 2.06.

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

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.