Wealth Quarterback LLC Buys 417 Shares of Tesla, Inc. $TSLA

Wealth Quarterback LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,431 shares of the electric vehicle producer’s stock after buying an additional 417 shares during the quarter. Wealth Quarterback LLC’s holdings in Tesla were worth $1,090,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Goldman Sachs Group Inc. increased its holdings 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 valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC acquired a new position in shares of Tesla during the 1st quarter worth approximately $3,247,619,000. Kingstone Capital Partners Texas LLC increased its stake in Tesla by 581,880.5% during the 2nd 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 buying an additional 6,435,598 shares in the last quarter. Amundi raised its holdings 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 valued at $4,482,789,000 after acquiring an additional 3,814,610 shares during the last quarter. Finally, Vanguard Group Inc. lifted 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 valued at $63,983,418,000 after acquiring an additional 3,694,524 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ:TSLA opened at $439.62 on Wednesday. Tesla, Inc. has a fifty-two week low of $214.25 and a fifty-two week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. The company has a 50 day moving average price of $425.40 and a 200 day moving average price of $358.68. The stock has a market capitalization of $1.46 trillion, a P/E ratio of 293.08, a PEG ratio of 16.84 and a beta of 2.06.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The company had revenue of $28.10 billion for the quarter, compared to analysts’ expectations of $24.98 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. The firm’s revenue was up 11.6% compared to the same quarter last year. Equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated 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 transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James R. Murdoch sold 120,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This trade represents a 14.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 202,606 shares of company stock worth $75,588,902 in the last three months. 19.90% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on TSLA. Industrial Alliance Securities set a $300.00 price objective on Tesla in a research note on Monday, October 13th. BNP Paribas Exane started coverage on Tesla in a research note on Thursday, October 16th. They set an “underperform” rating and a $307.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. Evercore ISI raised their price objective on shares of Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have issued a Hold rating and eleven have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.