Exencial Wealth Advisors LLC Acquires 5,988 Shares of Tesla, Inc. $TSLA

Exencial Wealth Advisors LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 35.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,070 shares of the electric vehicle producer’s stock after acquiring an additional 5,988 shares during the period. Exencial Wealth Advisors LLC’s holdings in Tesla were worth $7,328,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position 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 acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Tesla during the first quarter worth $3,247,619,000. Kingstone Capital Partners Texas LLC lifted its position in shares of Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock worth $2,044,683,000 after acquiring an additional 6,435,598 shares in the last quarter. Amundi lifted its position in shares of 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 in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Tesla by 1.5% in 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 buying an additional 3,694,524 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. Benchmark reiterated a “buy” rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Wedbush reiterated an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a research report on Monday. The Goldman Sachs Group increased their price objective on Tesla from $395.00 to $425.00 and gave the stock a “neutral” rating in a research report on Friday, October 3rd. Finally, China Renaissance restated a “hold” rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Two 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 given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $363.54.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred 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 sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

Tesla Stock Down 1.1%

Shares of NASDAQ:TSLA opened at $442.60 on Wednesday. The stock’s 50-day moving average price is $391.74 and its 200-day moving average price is $336.26. Tesla, Inc. has a 12-month low of $212.11 and a 12-month high of $488.54. The stock has a market capitalization of $1.47 trillion, a P/E ratio of 255.84, a price-to-earnings-growth ratio of 16.08 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

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