Tesla, Inc. $TSLA Shares Purchased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 11.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,437 shares of the electric vehicle producer’s stock after purchasing an additional 142 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Tesla were worth $456,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TSLA. Brighton Jones LLC lifted its stake in Tesla by 11.8% in the 4th 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 in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after purchasing an additional 931 shares during the last quarter. Bison Wealth LLC lifted its position in Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after buying an additional 3,558 shares in the last quarter. Congress Asset Management Co. acquired a new position in Tesla during the first quarter worth $315,000. Finally, RDA Financial Network grew its holdings in Tesla by 59.9% in the 1st quarter. RDA Financial Network now owns 1,311 shares of the electric vehicle producer’s stock valued at $340,000 after buying an additional 491 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Murdoch sold 60,000 shares of the firm’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $422.68, for a total value of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

Shares of TSLA stock opened at $453.25 on Tuesday. The firm has a 50 day moving average of $366.57 and a two-hundred day moving average of $324.02. The stock has a market capitalization of $1.51 trillion, a PE ratio of 261.99, a P/E/G ratio of 14.93 and a beta of 2.08. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last released its 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 company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the business posted $0.52 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on TSLA shares. Glj Research reissued a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Dbs Bank increased their price target on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a report on Friday, September 26th. Morgan Stanley restated an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a report on Thursday, October 2nd. Finally, Piper Sandler boosted their price target on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $344.40.

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.