PCG Wealth Advisors LLC Has $1.37 Million Holdings in Tesla, Inc. $TSLA

PCG Wealth Advisors LLC trimmed its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 10.8% during the second quarter, HoldingsChannel.com reports. The firm owned 4,313 shares of the electric vehicle producer’s stock after selling 522 shares during the period. PCG Wealth Advisors LLC’s holdings in Tesla were worth $1,370,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. LGT Financial Advisors LLC acquired a new position in Tesla in the 2nd quarter valued at approximately $29,000. Chelsea Counsel Co. increased its holdings in Tesla by 59.7% in the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 40 shares during the period. Evergreen Private Wealth LLC increased its holdings in Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after purchasing an additional 81 shares during the period. Maseco LLP bought a new position in Tesla during the 2nd quarter worth $39,000. Finally, Morton Brown Family Wealth LLC lifted its holdings in Tesla by 36.0% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 136 shares of the electric vehicle producer’s stock worth $43,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $445.23 on Tuesday. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $423.19 and a 200-day moving average price of $357.59. The company has a market cap of $1.48 trillion, a PE ratio of 296.82, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06.

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, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.72 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the sale, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were 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 approximately $17,314,500. The trade was a 29.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 202,606 shares of company stock worth $75,588,902 in the last ninety days. Company insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

TSLA has been the subject of several recent research reports. Daiwa Capital Markets restated a “neutral” rating on shares of Tesla in a research report on Sunday, July 27th. Guggenheim reissued a “sell” rating and set a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Wall Street Zen upgraded Tesla from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. New Street Research lifted their target price on Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Finally, Piper Sandler raised their price objective on shares of Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and eleven have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $391.08.

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.