AE Wealth Management LLC Increases Position in Tesla, Inc. $TSLA

AE Wealth Management LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.2% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 236,828 shares of the electric vehicle producer’s stock after acquiring an additional 13,788 shares during the quarter. AE Wealth Management LLC’s holdings in Tesla were worth $75,230,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Chelsea Counsel Co. grew its position in Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 40 shares during the period. LGT Financial Advisors LLC acquired a new stake in Tesla during the 2nd quarter worth $29,000. Evergreen Private Wealth LLC boosted its holdings in shares of Tesla by 270.0% during the 2nd quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock worth $35,000 after purchasing an additional 81 shares during the last quarter. Graybill Wealth Management LTD. purchased a new stake in shares of Tesla in the first quarter valued at about $36,000. Finally, Pacific Center for Financial Services grew its position in Tesla by 44.7% in the first quarter. Pacific Center for Financial Services now owns 149 shares of the electric vehicle producer’s stock worth $39,000 after acquiring an additional 46 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of Tesla stock opened at $429.52 on Friday. Tesla, Inc. has a 52 week low of $214.25 and a 52 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 stock has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 286.35, a PEG ratio of 16.84 and a beta of 2.06. The firm has a fifty day moving average of $420.97 and a two-hundred day moving average of $354.73.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, beating analysts’ consensus estimates 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%.The firm’s revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.72 earnings per share. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TSLA shares. New Street Research boosted their price target on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Wedbush reaffirmed an “outperform” rating and set a $600.00 target price on shares of Tesla in a research note on Wednesday. China Renaissance raised their price target on shares of Tesla from $349.00 to $380.00 and gave the company a “hold” rating in a research report on Friday, October 24th. Deutsche Bank Aktiengesellschaft increased their price objective on Tesla from $440.00 to $470.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Stifel Nicolaus set a $483.00 target price on Tesla and gave the stock a “buy” rating in a research note on Wednesday, October 8th. 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $391.08.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction on Monday, September 8th. The shares were 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’s stock in a transaction on 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 completion of the sale, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 202,606 shares of company stock worth $75,588,902. Company insiders own 19.90% of the company’s stock.

Tesla 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.