Alteri Wealth LLC Purchases 427 Shares of Tesla, Inc. $TSLA

Alteri Wealth LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,925 shares of the electric vehicle producer’s stock after buying an additional 427 shares during the period. Tesla makes up about 1.0% of Alteri Wealth LLC’s investment portfolio, making the stock its 17th biggest position. Alteri Wealth LLC’s holdings in Tesla were worth $2,517,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after acquiring an additional 4,502,976 shares during the period. Geode Capital Management LLC raised its holdings in Tesla by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after buying an additional 1,269,304 shares during the period. Goldman Sachs Group Inc. raised its holdings in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after buying an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after buying an additional 849,091 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the sale, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James R. Murdoch sold 120,000 shares of the company’s 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 owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 202,606 shares of company stock valued at $75,588,902 over the last ninety days. 19.90% of the stock is currently owned by company insiders.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $401.25 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.33 trillion, a P/E ratio of 267.50, a P/E/G ratio of 16.84 and a beta of 2.06. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The stock has a 50 day moving average of $432.00 and a 200-day moving average of $363.04.

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, beating the consensus estimate of $0.48 by $0.02. Tesla had a return on equity of 6.61% and a net margin of 5.51%.The business had revenue of $28.10 billion during the quarter, compared to the consensus estimate of $24.98 billion. During the same quarter last year, the firm posted $0.72 EPS. The company’s quarterly revenue was up 11.6% on a year-over-year basis. 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 brokerages recently commented on TSLA. DZ Bank restated a “sell” rating on shares of Tesla in a report on Thursday, October 23rd. Barclays reaffirmed a “negative” rating and issued a $350.00 target price (up from $275.00) on shares of Tesla in a research note on Thursday, October 16th. Dbs Bank raised Tesla to a “hold” rating in a research note on Wednesday, November 5th. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Finally, New Street Research upped their price objective on Tesla from $465.00 to $520.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $394.31.

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.