Abich Financial Wealth Management LLC Takes $700,000 Position in Tesla, Inc. $TSLA

Abich Financial Wealth Management LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLAFree Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,575 shares of the electric vehicle producer’s stock, valued at approximately $700,000. Tesla accounts for 0.2% of Abich Financial Wealth Management LLC’s investment portfolio, making the stock its 23rd largest holding.

Several other large investors also recently bought and sold shares of the stock. Chapman Financial Group LLC purchased a new position in Tesla in the second quarter worth approximately $26,000. LGT Financial Advisors LLC acquired a new stake in shares of Tesla in the 2nd quarter valued at $29,000. Manning & Napier Advisors LLC purchased a new stake in shares of Tesla during the 3rd quarter worth $29,000. CoreFirst Bank & Trust acquired a new position in shares of Tesla during the second quarter worth $30,000. Finally, ESL Trust Services LLC increased its holdings in Tesla by 1,900.0% in the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

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Tesla Stock Performance

NASDAQ:TSLA opened at $417.07 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.16 and a quick ratio of 1.77. The firm has a market cap of $1.57 trillion, a price-to-earnings ratio of 386.18, a price-to-earnings-growth ratio of 14.50 and a beta of 1.86. The firm’s fifty day moving average price is $444.99 and its 200 day moving average price is $413.39. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last released its earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. Tesla had a net margin of 4.00% and a return on equity of 4.86%. The company had revenue of $24.90 billion during the quarter, compared to analysts’ expectations of $24.75 billion. During the same quarter last year, the business earned $0.73 EPS. The business’s revenue was down 3.1% on a year-over-year basis. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSLA. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Tesla in a report on Tuesday, January 27th. Dbs Bank upgraded Tesla to a “hold” rating in a research note on Wednesday, November 5th. William Blair reaffirmed a “market perform” rating on shares of Tesla in a report on Friday, January 2nd. Benchmark reissued a “buy” rating on shares of Tesla in a report on Wednesday. Finally, Mizuho set a $540.00 price objective on shares of Tesla and gave the stock an “outperform” rating in a research report on Thursday, January 29th. Eighteen research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $408.09.

Check Out Our Latest Research Report on Tesla

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $445.40, for a total transaction of $26,724,000.00. Following the transaction, the director owned 577,031 shares in the company, valued at approximately $257,009,607.40. The trade was a 9.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,637 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $443.93, for a total value of $1,170,643.41. Following the transaction, the chief financial officer directly owned 13,757 shares of the company’s stock, valued at approximately $6,107,145.01. This trade represents a 16.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 119,457 shares of company stock valued at $53,501,145. 19.90% of the stock is owned by corporate insiders.

About Tesla

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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