Tesla, Inc. $TSLA Position Increased by TruWealth Advisors LLC

TruWealth Advisors LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,304 shares of the electric vehicle producer’s stock after purchasing an additional 87 shares during the period. TruWealth Advisors LLC’s holdings in Tesla were worth $414,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Tesla by 1.5% in the 1st 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 during the period. Goldman Sachs Group Inc. increased its position in Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Tesla by 0.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer’s stock valued at $9,908,828,000 after acquiring an additional 158,697 shares during the period. Charles Schwab Investment Management Inc. increased its position in Tesla by 4.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after acquiring an additional 849,091 shares during the period. Finally, Amundi increased its position in Tesla by 29.4% in the 1st 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 during the period. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,606 shares of company stock valued at $51,999,662. Insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TSLA shares. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Wedbush reiterated an “outperform” rating and set a $500.00 price target on shares of Tesla in a research report on Monday, August 4th. Benchmark reiterated a “buy” rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. HSBC reiterated a “reduce” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Finally, William Blair reiterated a “market perform” rating on shares of Tesla in a research report on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have issued a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $303.00.

Tesla Stock Performance

Shares of Tesla stock opened at $395.94 on Friday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. 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 stock has a market cap of $1.28 trillion, a PE ratio of 228.87, a price-to-earnings-growth ratio of 12.87 and a beta of 2.06. The business has a fifty day simple moving average of $328.89 and a 200-day simple moving average of $303.57.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results 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 net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the prior year, the firm posted $0.52 EPS. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.