Daner Wealth Management LLC Acquires Shares of 1,400 Tesla, Inc. $TSLA

Daner Wealth Management LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,400 shares of the electric vehicle producer’s stock, valued at approximately $477,000.

Several other hedge funds also recently added to or reduced their stakes in TSLA. Norges Bank bought a new position in shares of Tesla during the second quarter valued at approximately $11,839,824,000. Nuveen LLC purchased a new position in Tesla during the 1st quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC grew its position in Tesla by 581,880.5% in the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer’s stock valued at $2,044,683,000 after acquiring an additional 6,435,598 shares during the last quarter. Vanguard Group Inc. increased its stake in Tesla by 1.8% in the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after purchasing an additional 4,502,976 shares during the period. Finally, Amundi lifted its position 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 worth $4,482,789,000 after purchasing an additional 3,814,610 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $455.00 on Friday. The firm has a 50 day moving average of $434.93 and a 200 day moving average of $372.61. 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 company has a market capitalization of $1.51 trillion, a price-to-earnings ratio of 303.33, a price-to-earnings-growth ratio of 15.37 and a beta of 1.87. Tesla, Inc. has a 52 week low of $214.25 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its 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 company had revenue of $28.10 billion for the quarter, compared to analyst estimates of $24.98 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a research report on Thursday, October 30th. Wall Street Zen raised shares of Tesla from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Dbs Bank upgraded Tesla to a “hold” rating in a report on Wednesday, November 5th. Finally, Bank of America raised their price objective on Tesla from $341.00 to $471.00 and gave the stock a “neutral” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $398.92.

Insider Activity at Tesla

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 transaction of $918,302.28. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 value of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 82,606 shares of company stock valued at $33,554,102 in the last three months. 19.90% of the stock is owned by insiders.

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.