Wealthquest Corp Purchases 171 Shares of Tesla, Inc. $TSLA

Wealthquest Corp lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 12.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,572 shares of the electric vehicle producer’s stock after purchasing an additional 171 shares during the period. Wealthquest Corp’s holdings in Tesla were worth $499,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Tesla by 1.8% in the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after acquiring an additional 4,502,976 shares during the period. Geode Capital Management LLC boosted its holdings in Tesla by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after purchasing an additional 1,269,304 shares during the period. Norges Bank acquired a new position in shares of Tesla during the 2nd quarter worth approximately $11,839,824,000. Goldman Sachs Group Inc. increased its holdings in shares of Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Tesla by 5.9% in the second quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock valued at $6,424,705,000 after buying an additional 1,134,678 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the company’s 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 owned 47,600 shares of the company’s stock, valued at $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla 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 directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 82,606 shares of company stock worth $33,554,102. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Up 0.8%

Shares of NASDAQ TSLA opened at $430.10 on Friday. The company has a market cap of $1.43 trillion, a price-to-earnings ratio of 286.73, a PEG ratio of 16.84 and a beta of 2.06. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The stock has a 50-day moving average price of $433.95 and a two-hundred day moving average price of $368.95.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. The company had revenue of $28.10 billion for 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%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of analyst reports. New Street Research increased their price target on Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Weiss Ratings restated a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. Wedbush reaffirmed an “outperform” rating and set a $600.00 price objective on shares of Tesla in a research report on Wednesday, November 5th. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a research note on Wednesday, October 15th. Finally, Canaccord Genuity Group dropped their target price on shares of Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $394.03.

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.