MFG Wealth Management Inc. Acquires 207 Shares of Tesla, Inc. $TSLA

MFG Wealth Management Inc. lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 8,641 shares of the electric vehicle producer’s stock after purchasing an additional 207 shares during the period. Tesla comprises about 2.3% of MFG Wealth Management Inc.’s investment portfolio, making the stock its 19th biggest position. MFG Wealth Management Inc.’s holdings in Tesla were worth $2,745,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TSLA. Brighton Jones LLC grew its holdings in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after acquiring an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in Tesla in the 4th quarter worth $346,000. Highview Capital Management LLC DE bought a new stake in Tesla in the 4th quarter worth $2,367,000. Finally, Bison Wealth LLC grew its holdings in Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after acquiring an additional 3,558 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 3.6%

Shares of NASDAQ TSLA opened at $410.04 on Tuesday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The stock has a market cap of $1.32 trillion, a P/E ratio of 237.02, a price-to-earnings-growth ratio of 13.81 and a beta of 2.06. The firm has a 50-day moving average of $331.21 and a 200 day moving average of $304.53. 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 (NASDAQ:TSLA) last issued its quarterly earnings results 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period last year, the business earned $0.52 earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Wedbush reaffirmed an “outperform” rating and issued a $500.00 target price on shares of Tesla in a research report on Monday. Daiwa Capital Markets reaffirmed a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Bank of America raised their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fourteen have assigned a Hold rating and nine have issued a Sell rating to the company’s stock. According to data from MarketBeat, Tesla has a consensus rating of “Hold” and an average target price of $303.00.

Insider Activity at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the completion of the transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. This trade represents a 14.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total transaction of $1,171,560.00. Following the transaction, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at approximately $1,735,080.36. This trade represents a 40.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,606 shares of company stock valued at $51,999,662 in the last three months. Company insiders own 20.70% of the company’s stock.

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.