Geneos Wealth Management Inc. Has $11.33 Million Holdings in Tesla, Inc. $TSLA

Geneos Wealth Management Inc. grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 40.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 35,650 shares of the electric vehicle producer’s stock after purchasing an additional 10,349 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Tesla were worth $11,325,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Holos Integrated Wealth LLC raised its position in shares of Tesla by 10.8% during the 2nd quarter. Holos Integrated Wealth LLC now owns 309 shares of the electric vehicle producer’s stock valued at $102,000 after acquiring an additional 30 shares during the last quarter. First Merchants Corp grew its stake in shares of Tesla by 1.3% during the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock worth $767,000 after purchasing an additional 31 shares during the period. Kaye Capital Management increased its holdings in Tesla by 3.1% in the second quarter. Kaye Capital Management now owns 1,047 shares of the electric vehicle producer’s stock valued at $333,000 after purchasing an additional 31 shares during the last quarter. Spectrum Wealth Advisory Group LLC lifted its stake in Tesla by 3.4% in the second quarter. Spectrum Wealth Advisory Group LLC now owns 941 shares of the electric vehicle producer’s stock valued at $299,000 after buying an additional 31 shares during the period. Finally, Wambolt & Associates LLC boosted its holdings in Tesla by 1.0% during the second quarter. Wambolt & Associates LLC now owns 3,119 shares of the electric vehicle producer’s stock worth $938,000 after buying an additional 31 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

TSLA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on Tesla from $115.00 to $150.00 in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Tesla from $440.00 to $470.00 and gave the company a “buy” rating in a report on Monday, November 3rd. HSBC reiterated a “reduce” rating on shares of Tesla in a report on Monday, November 17th. Roth Capital set a $505.00 price target on shares of Tesla and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Canaccord Genuity Group lowered their price objective on shares of Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, fourteen have issued a Hold rating and nine have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $399.33.

Insider Buying and Selling

In other news, Director Kimbal Musk sold 56,820 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares of the company’s stock, valued at $627,145,215.90. This trade represents a 3.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of Tesla stock in a transaction on 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 owned 637,031 shares in the company, valued at $269,260,263.08. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 119,457 shares of company stock worth $52,137,945. 19.90% of the stock is owned by corporate insiders.

Tesla Trading Up 2.7%

Shares of NASDAQ:TSLA opened at $458.96 on Friday. The firm has a market cap of $1.53 trillion, a price-to-earnings ratio of 305.97, a PEG ratio of 15.50 and a beta of 1.87. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The company’s fifty day simple moving average is $435.52 and its 200 day simple moving average is $376.29. The company has a quick ratio of 1.67, a current ratio of 2.07 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share (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 firm had revenue of $28.10 billion during the quarter, compared to analysts’ expectations of $24.98 billion. During the same quarter in the prior year, the company earned $0.72 EPS. The company’s revenue was up 11.6% on a year-over-year basis. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS 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.