Exencial Wealth Advisors LLC Has $7.33 Million Stake in Tesla, Inc. $TSLA

Key Points

• Exencial Wealth Advisors LLC increased its stake in Tesla, Inc. by 35.1% during the second quarter, raising its holdings to over $7.33 million with a total of 23,070 shares.
• Recent analyst reports have resulted in fluctuating price targets for Tesla, with notable increases from HSBC, Bank of America, and Deutsche Bank, demonstrating varied market sentiment towards the stock.
• In a significant insider transaction, Tesla Director James R. Murdoch sold 120,000 shares, decreasing his position by 14.69%, while CFO Vaibhav Taneja also sold shares, reflecting potential concerns among insiders.

Exencial Wealth Advisors LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 35.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,070 shares of the electric vehicle producer's stock after buying an additional 5,988 shares during the quarter. Exencial Wealth Advisors LLC's holdings in Tesla were worth $7,328,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Siren L.L.C. acquired a new stake in shares of Tesla during the 1st quarter worth approximately $2,332,000. Zuckerman Investment Group LLC raised its position in Tesla by 6.9% in the 1st quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer's stock valued at $3,304,000 after purchasing an additional 826 shares during the last quarter. Keystone Global Partners LLC bought a new position in Tesla in the 1st quarter valued at $594,000. Strs Ohio bought a new position in Tesla in the 1st quarter valued at $205,495,000. Finally, IFM Investors Pty Ltd raised its position in shares of Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after acquiring an additional 46,087 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TSLA. HSBC boosted their target price on Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Bank of America boosted their target price on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Daiwa Capital Markets restated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Evercore ISI upped their target price on Tesla from $235.00 to $300.00 and gave the stock an "in-line" rating in a report on Monday, October 13th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have issued a Hold rating and ten have given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $363.54.

Insiders Place Their Bets

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company's stock, valued at approximately $244,162,988.99. The trade was a 14.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is currently owned by company insiders.

Tesla Price Performance

Tesla stock opened at $442.60 on Wednesday. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The stock's fifty day moving average price is $391.74 and its two-hundred day moving average price is $336.26. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The firm has a market cap of $1.47 trillion, a PE ratio of 255.84, a price-to-earnings-growth ratio of 16.08 and a beta of 2.08.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the business posted $0.52 EPS. The company's revenue for the quarter was down 11.8% on a year-over-year basis. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.

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