Tanager Wealth Management LLP Takes $203,000 Position in Tesla, Inc. $TSLA

Tanager Wealth Management LLP bought a new stake in Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 640 shares of the electric vehicle producer’s stock, valued at approximately $203,000.

Several other large investors have also modified their holdings of the stock. Gold Investment Management Ltd. boosted its holdings in shares of Tesla by 68.0% in the 2nd quarter. Gold Investment Management Ltd. now owns 19,075 shares of the electric vehicle producer’s stock valued at $5,736,000 after buying an additional 7,724 shares in the last quarter. Naples Global Advisors LLC raised its position in Tesla by 2.5% in the 2nd quarter. Naples Global Advisors LLC now owns 4,594 shares of the electric vehicle producer’s stock valued at $1,459,000 after purchasing an additional 112 shares during the last quarter. Foundry Financial Group Inc. purchased a new stake in Tesla in the 2nd quarter valued at $213,000. Pure Financial Advisors LLC raised its position in Tesla by 12.3% in the 2nd quarter. Pure Financial Advisors LLC now owns 29,481 shares of the electric vehicle producer’s stock valued at $9,365,000 after purchasing an additional 3,231 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Tesla by 10.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,228,265 shares of the electric vehicle producer’s stock valued at $390,171,000 after purchasing an additional 119,904 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TSLA. Wedbush upped their price target on shares of Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Friday, September 26th. Deutsche Bank Aktiengesellschaft upped 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. Piper Sandler upped their price target on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. JPMorgan Chase & Co. upped their price target on shares of Tesla from $115.00 to $150.00 in a research report on Friday. Finally, Robert W. Baird upgraded shares of Tesla from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $320.00 to $548.00 in a research report on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and eight have issued a Sell rating to the company. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $343.43.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated 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 completion of the sale, the director directly owned 637,031 shares in the company, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,606 shares of company stock valued at $77,360,462. Insiders own 19.90% of the company’s stock.

Tesla Stock Performance

Shares of TSLA opened at $429.83 on Friday. The company has a 50-day simple moving average of $364.02 and a 200-day simple moving average of $321.39. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.43 trillion, a PE ratio of 248.46, a P/E/G ratio of 15.15 and a beta of 2.08. Tesla, Inc. has a 52-week low of $212.11 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last announced 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). The company had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.