WJ Wealth Management LLC Buys New Stake in Tesla, Inc. (NASDAQ:TSLA)

WJ Wealth Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,074 shares of the electric vehicle producer’s stock, valued at approximately $281,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Affiance Financial LLC boosted its stake in Tesla by 0.8% in the 2nd quarter. Affiance Financial LLC now owns 6,644 shares of the electric vehicle producer’s stock worth $1,739,000 after purchasing an additional 53 shares in the last quarter. Ullmann Wealth Partners Group LLC acquired a new stake in shares of Tesla during the second quarter worth $239,000. Capital Advisors Wealth Management LLC grew its holdings in shares of Tesla by 35.7% during the second quarter. Capital Advisors Wealth Management LLC now owns 2,132 shares of the electric vehicle producer’s stock valued at $558,000 after buying an additional 561 shares during the last quarter. 180 Wealth Advisors LLC increased its position in shares of Tesla by 5.9% in the 2nd quarter. 180 Wealth Advisors LLC now owns 31,666 shares of the electric vehicle producer’s stock valued at $8,861,000 after acquiring an additional 1,754 shares during the period. Finally, Tlwm lifted its position in Tesla by 2.2% during the 2nd quarter. Tlwm now owns 9,430 shares of the electric vehicle producer’s stock worth $2,468,000 after acquiring an additional 205 shares during the period. Hedge funds and other institutional investors own 41.87% of the company’s stock.

Tesla Stock Performance

Tesla stock opened at $265.28 on Tuesday. The stock has a market cap of $842.00 billion, a price-to-earnings ratio of 75.15, a price-to-earnings-growth ratio of 4.28 and a beta of 2.09. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.59 and a quick ratio of 1.07. The firm has a 50 day simple moving average of $255.83 and a 200-day simple moving average of $220.81. Tesla, Inc. has a 1-year low of $101.81 and a 1-year high of $313.80.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 19th. The electric vehicle producer reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. The company had revenue of $24.93 billion for the quarter, compared to the consensus estimate of $24.22 billion. Tesla had a return on equity of 26.10% and a net margin of 12.97%. The company’s revenue for the quarter was up 47.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 earnings per share. On average, analysts expect that Tesla, Inc. will post 2.94 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on TSLA. StockNews.com started coverage on Tesla in a research note on Thursday, August 17th. They issued a “hold” rating for the company. TD Cowen increased their price objective on shares of Tesla from $150.00 to $200.00 and gave the stock a “market perform” rating in a research note on Thursday, July 20th. Guggenheim restated a “sell” rating and set a $125.00 target price on shares of Tesla in a research report on Monday. Morgan Stanley upgraded Tesla from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $250.00 to $400.00 in a research note on Sunday, September 10th. Finally, Truist Financial upped their target price on Tesla from $240.00 to $254.00 and gave the stock a “hold” rating in a research note on Thursday, July 20th. Six analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $239.43.

Insiders Place Their Bets

In other news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $242.53, for a total value of $2,546,565.00. Following the transaction, the senior vice president now directly owns 66,834 shares in the company, valued at approximately $16,209,250.02. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $242.53, for a total transaction of $2,546,565.00. Following the transaction, the senior vice president now directly owns 66,834 shares in the company, valued at $16,209,250.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Friday, July 7th. The shares were sold at an average price of $278.36, for a total value of $1,113,440.00. Following the completion of the sale, the chief accounting officer now directly owns 104,504 shares of the company’s stock, valued at $29,089,733.44. The disclosure for this sale can be found here. Insiders sold a total of 55,815 shares of company stock valued at $14,384,135 over the last 90 days. 20.90% of the stock is owned by company 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. It 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, retail merchandise, and vehicle insurance services.