Innovative Wealth Building LLC Makes New Investment in Tesla, Inc. $TSLA

Key Points

• Innovative Wealth Building LLC purchased 738 shares of Tesla, valued at approximately $234,000, reflecting growing institutional interest in the company.
• Insider transactions revealed that Director James R. Murdoch sold 120,000 shares at an average price of $350.29, indicating a 14.69% decrease in his holdings.
• Analysts have differing views on Tesla's stock, with a consensus rating of "Hold" and a target price of $344.40, while notable firms like Guggenheim assigned a "sell" rating.

Innovative Wealth Building LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 738 shares of the electric vehicle producer's stock, valued at approximately $234,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Tesla by 4.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer's stock worth $4,710,218,000 after acquiring an additional 849,091 shares during the period. Amundi grew its holdings in Tesla by 29.4% during the 1st quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock worth $4,482,789,000 after acquiring an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. increased its position in Tesla by 17.6% during the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock valued at $3,832,047,000 after purchasing an additional 2,211,300 shares during the period. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the company's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares of the company's stock, valued at $244,162,988.99. This represents a 14.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was 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 owned 47,600 shares of the company's stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TSLA. William Blair reiterated a "market perform" rating on shares of Tesla in a research note on Friday, September 5th. Guggenheim restated a "sell" rating and set a $175.00 target price on shares of Tesla in a report on Wednesday, July 23rd. HSBC lifted their price target on Tesla from $120.00 to $127.00 in a report on Monday, September 29th. CICC Research upped their price objective on Tesla from $360.00 to $450.00 and gave the stock an "outperform" rating in a research note on Thursday, September 18th. Finally, UBS Group set a $247.00 target price on Tesla in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $344.40.

Tesla Trading Up 5.4%

Shares of NASDAQ:TSLA opened at $453.25 on Tuesday. The business's 50-day moving average is $366.57 and its 200 day moving average is $324.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm has a market capitalization of $1.51 trillion, a P/E ratio of 261.99, a P/E/G ratio of 14.93 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 for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.Tesla's revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share 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.

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