WJ Wealth Management LLC Buys New Holdings in Tesla, Inc. $TSLA

by · The Cerbat Gem

WJ Wealth Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,080 shares of the electric vehicle producer’s stock, valued at approximately $343,000.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Tesla by 1.5% during the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after acquiring an additional 3,694,524 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in 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 acquiring an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock worth $4,710,218,000 after acquiring an additional 849,091 shares during the last quarter. Amundi lifted its position in Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Tesla by 17.6% during the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock worth $3,832,047,000 after acquiring an additional 2,211,300 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TSLA shares. The Goldman Sachs Group raised their price objective on shares of Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Morgan Stanley restated an “overweight” rating on shares of Tesla in a research report on Wednesday. HSBC lifted their price target on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. BNP Paribas Exane started coverage on shares of Tesla in a research report on Thursday. They issued an “underperform” rating and a $307.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lifted 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. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $363.54.

Get Our Latest Stock Analysis on Tesla

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the business’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 sale, the director owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. The trade was a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $428.75 on Friday. The company’s 50 day simple moving average is $385.34 and its 200 day simple moving average is $332.07. The stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 247.83, a price-to-earnings-growth ratio of 15.64 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA – Get Free Report) last announced 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). The firm had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s revenue was down 11.8% compared to the same quarter last year. During the same period last year, the business earned $0.52 earnings per share. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

About Tesla

(Free Report)

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.

Further Reading