Tesla, Inc. $TSLA Shares Purchased by BXM Wealth LLC

BXM Wealth LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,806 shares of the electric vehicle producer’s stock after purchasing an additional 68 shares during the period. BXM Wealth LLC’s holdings in Tesla were worth $564,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cherry Tree Wealth Management LLC grew its stake in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank lifted its position in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 42 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the first quarter valued at $27,000. Chelsea Counsel Co. lifted its position in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares during the last quarter. Finally, Evergreen Private Wealth LLC lifted its position in Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. Melius initiated coverage on shares of Tesla in a research report on Monday, October 13th. They issued a “buy” rating and a $520.00 price target for the company. The Goldman Sachs Group boosted their price target on shares of Tesla from $395.00 to $425.00 and gave the company a “neutral” rating in a research report on Friday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research report on Friday, September 26th. BNP Paribas Exane initiated coverage on shares of Tesla in a report on Thursday. They issued an “underperform” rating and a $307.00 target price for the company. Finally, Benchmark reissued a “buy” rating and set a $475.00 price target (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have issued a Sell rating to the stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $363.54.

Insider Activity

In other news, Director James R. Murdoch sold 60,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were 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 represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were 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 owned 9,856 shares in the company, 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. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. 19.90% of the stock is currently owned by insiders.

Tesla Trading Up 2.5%

Shares of TSLA opened at $439.31 on Friday. 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 firm’s 50-day moving average is $387.54 and its two-hundred day moving average is $333.25. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The firm has a market capitalization of $1.46 trillion, a P/E ratio of 253.94, a PEG ratio of 15.41 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The company’s quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.