Refined Wealth Management Buys New Position in Tesla, Inc. $TSLA

Refined Wealth Management bought a new stake in Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 668 shares of the electric vehicle producer’s stock, valued at approximately $212,000. Tesla makes up about 0.1% of Refined Wealth Management’s investment portfolio, making the stock its 27th biggest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cherry Tree Wealth Management LLC raised its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank raised its stake in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla during the first quarter worth approximately $27,000. Newton One Investments LLC raised its stake in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Finally, Chelsea Counsel Co. raised its stake in shares of 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 in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA stock opened at $443.21 on Tuesday. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The stock has a market cap of $1.47 trillion, a PE ratio of 256.19, a price-to-earnings-growth ratio of 15.36 and a beta of 2.06. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average price is $354.34 and its 200-day moving average price is $316.75.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS 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 the consensus estimate of $23.18 billion. During the same quarter last year, the firm posted $0.52 EPS. The business’s quarterly revenue was down 11.8% on a year-over-year basis. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on TSLA shares. Morgan Stanley reissued an “overweight” rating and set a $410.00 price target on shares of Tesla in a research note on Friday, September 5th. Argus reissued a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Royal Bank Of Canada reissued a “buy” rating on shares of Tesla in a research note on Friday. Piper Sandler lifted their target price on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research note on Monday, September 22nd. Finally, China Renaissance reaffirmed a “hold” rating and issued a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $332.33.

Insider Activity

In other news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,606 shares of company stock worth $77,360,462. Corporate insiders own 19.90% of the company’s stock.

Tesla 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.