Level Wealth Management LLC Makes New Investment in Tesla, Inc. $TSLA

Key Points

• Level Wealth Management LLC has acquired a new position in Tesla, purchasing 707 shares worth approximately $225,000 during the second quarter.
• Tesla's stock has received various ratings from analysts, with a consensus rating of "Hold" and an average target price of $363.54.
• Insider trading activity includes CFO Vaibhav Taneja selling shares valued at over $918,000 and Director James R. Murdoch selling shares worth more than $25 million.

Level Wealth Management LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 707 shares of the electric vehicle producer's stock, valued at approximately $225,000.

Other hedge funds have also recently added to or reduced their stakes in the company. First Merchants Corp increased its stake in shares of Tesla by 1.3% in the 2nd quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer's stock valued at $767,000 after purchasing an additional 31 shares during the last quarter. KWB Wealth increased its stake in shares of Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock valued at $439,000 after purchasing an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. increased its stake in shares of Tesla by 3.6% in the 2nd quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock valued at $310,000 after purchasing an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. increased its stake in shares of Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock valued at $1,622,000 after purchasing an additional 34 shares during the last quarter. Finally, Acorn Creek Capital LLC increased its stake in shares of Tesla by 1.6% in the 2nd quarter. Acorn Creek Capital LLC now owns 2,194 shares of the electric vehicle producer's stock valued at $697,000 after purchasing an additional 34 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TSLA shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $355.00 price target on shares of Tesla in a research note on Friday, October 3rd. Stifel Nicolaus set a $483.00 price objective on Tesla and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Melius assumed coverage on Tesla in a research report on Monday, October 13th. They set a "buy" rating and a $520.00 price objective on the stock. HSBC boosted their price objective on Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. Finally, Evercore ISI boosted their price objective on Tesla from $235.00 to $300.00 and gave the stock an "in-line" rating in a research report on Monday, October 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $363.54.

Tesla Trading Up 2.5%

NASDAQ TSLA opened at $439.31 on Friday. The business's 50-day moving average price is $387.54 and its two-hundred day moving average price is $333.60. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The firm has a market capitalization of $1.46 trillion, a PE ratio of 253.94, a price-to-earnings-growth ratio of 15.79 and a beta of 2.08. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07.

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

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the business's 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 of the company's stock, valued at $3,473,057.28. The trade was a 20.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total value of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares in the company, valued at $269,260,263.08. This represents a 8.61% decrease in their ownership of the stock. 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. Insiders own 19.90% of the company's stock.

Tesla 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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