WealthPlan Investment Management LLC Increases Holdings in Tesla, Inc. $TSLA

WealthPlan Investment Management LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 57.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,664 shares of the electric vehicle producer’s stock after purchasing an additional 4,967 shares during the quarter. WealthPlan Investment Management LLC’s holdings in Tesla were worth $4,341,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in TSLA. Goldman Sachs Group Inc. grew its position in shares of Tesla by 322.1% in the first 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 purchasing an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new position in shares of Tesla in the first quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC grew its position in shares of Tesla by 581,880.5% in the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares in the last quarter. Amundi grew its position in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. The Goldman Sachs Group upped their target price on Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research note on Friday, October 3rd. Wedbush upped their target price on Tesla from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Friday, September 26th. Weiss Ratings restated a “hold (c)” rating on shares of Tesla in a research note on Wednesday, October 8th. Barclays restated a “negative” rating and issued a $350.00 target price (up from $275.00) on shares of Tesla in a research note on Thursday. Finally, Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $363.54.

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the 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 sale, the director directly owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated 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 owned 9,856 shares of the company’s stock, valued at $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Tesla Price Performance

TSLA opened at $428.75 on Friday. The stock has a 50-day moving average price of $385.34 and a 200-day moving average price of $332.07. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. 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 stock has a market capitalization of $1.43 trillion, a P/E ratio of 247.83, a PEG ratio of 15.64 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. Tesla’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.