Axim Planning & Wealth Raises Stock Position in Tesla, Inc. $TSLA

Axim Planning & Wealth lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 15.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,094 shares of the electric vehicle producer’s stock after buying an additional 278 shares during the period. Tesla makes up about 0.6% of Axim Planning & Wealth’s portfolio, making the stock its 13th largest position. Axim Planning & Wealth’s holdings in Tesla were worth $665,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of TSLA. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla in the 1st quarter worth approximately $27,000. Chelsea Counsel Co. grew its position in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 40 shares during the last quarter. Centennial Bank AR grew its position in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer’s stock worth $29,000 after buying an additional 100 shares during the last quarter. LGT Financial Advisors LLC purchased a new position in shares of Tesla in the 2nd quarter worth approximately $29,000. Finally, Evergreen Private Wealth LLC grew its position in shares of Tesla by 270.0% in the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after buying an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $444.26 on Wednesday. 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 company has a 50 day simple moving average of $414.80 and a two-hundred day simple moving average of $351.91. The stock has a market cap of $1.48 trillion, a price-to-earnings ratio of 296.17, a PEG ratio of 16.84 and a beta of 2.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the previous year, the business posted $0.72 EPS. The business’s revenue was up 11.6% compared to the same quarter last year. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Morgan Stanley reissued an “overweight” rating on shares of Tesla in a research report on Wednesday, October 15th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research report on Thursday, October 23rd. President Capital boosted their target price on shares of Tesla from $373.00 to $529.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. boosted their target price on shares of Tesla from $115.00 to $150.00 in a research report on Friday, October 3rd. Finally, Mizuho boosted their target price on shares of Tesla from $450.00 to $485.00 and gave the stock an “outperform” rating in a research report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and eleven have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $391.08.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction 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 transaction, the chief financial officer directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on Thursday, September 11th. The stock was 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. Over the last ninety days, insiders sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company’s stock.

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.