Maia Wealth LLC Raises Stock Holdings in Tesla, Inc. $TSLA

Maia Wealth LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 44.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,314 shares of the electric vehicle producer’s stock after acquiring an additional 1,330 shares during the quarter. Maia Wealth LLC’s holdings in Tesla were worth $1,370,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in Tesla by 11.8% during 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 during the period. Revolve Wealth Partners LLC grew its position in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after buying an additional 931 shares in the last quarter. Bison Wealth LLC increased its stake in shares of Tesla by 52.2% during the fourth quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock valued at $4,187,000 after buying an additional 3,558 shares during the period. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of Tesla by 2.1% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 13,423 shares of the electric vehicle producer’s stock valued at $3,479,000 after acquiring an additional 276 shares in the last quarter. Finally, Picton Mahoney Asset Management lifted its stake in Tesla by 104.7% in the first quarter. Picton Mahoney Asset Management now owns 24,849 shares of the electric vehicle producer’s stock worth $6,441,000 after acquiring an additional 552,969 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Bank of America raised their target price on shares of Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Thursday, October 23rd. Melius Research set a $520.00 target price on Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. The Goldman Sachs Group reduced their price target on Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a research report on Thursday, October 23rd. Finally, Wall Street Zen raised Tesla from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $394.03.

Insider Activity

In related news, Director James R. Murdoch sold 60,000 shares of the firm’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 completion of the transaction, the director owned 637,031 shares of the company’s stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 82,606 shares of company stock valued at $33,554,102 over the last ninety days. 19.90% of the stock is currently owned by insiders.

Tesla Price Performance

Shares of TSLA stock opened at $419.40 on Wednesday. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The firm has a market capitalization of $1.39 trillion, a price-to-earnings ratio of 279.60, a PEG ratio of 16.84 and a beta of 2.06. The stock’s 50-day simple moving average is $433.66 and its 200-day simple moving average is $367.35.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla’s revenue was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.72 EPS. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share 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.