Physician Wealth Advisors Inc. Grows Position in Tesla, Inc. $TSLA

Key Points

• Physician Wealth Advisors Inc. increased its holdings in Tesla by 11.8%, acquiring an additional 647 shares to reach a total of 6,147 shares valued at approximately $1.95 million.
• Notable institutional investors, including Goldman Sachs and GAMMA Investing, have significantly increased their positions in Tesla's stock, demonstrating strong institutional interest in the company.
• Despite a drop in revenue and earnings per share, Tesla's stock has a consensus rating of "Hold" with an average price target of $317.70, as assessed by various analysts.

Physician Wealth Advisors Inc. increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 11.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,147 shares of the electric vehicle producer's stock after buying an additional 647 shares during the period. Physician Wealth Advisors Inc.'s holdings in Tesla were worth $1,953,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC grew its holdings in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank boosted its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Tesla in the 1st quarter valued at about $27,000. Newton One Investments LLC boosted its holdings in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares in the last quarter. Finally, Chelsea Counsel Co. boosted its holdings in shares of Tesla by 59.7% in the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 40 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

NASDAQ TSLA traded up $8.14 on Monday, hitting $434.21. The company had a trading volume of 96,526,944 shares, compared to its average volume of 103,372,102. The company has a market capitalization of $1.44 trillion, a PE ratio of 250.99, a PEG ratio of 14.86 and a beta of 2.06. The company's fifty day moving average price is $340.68 and its 200-day moving average price is $308.67. 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 12-month low of $212.11 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 earnings per share. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the business's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the sale, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $918,302.28. Following the sale, the chief financial officer owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 208,606 shares of company stock worth $77,360,462 over the last three months. Company insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on TSLA shares. CICC Research raised their price target on shares of Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a report on Thursday. Piper Sandler raised their price target on shares of Tesla from $400.00 to $500.00 and gave the company an "overweight" rating in a report on Monday. Argus restated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Finally, Royal Bank Of Canada reiterated an "overweight" rating on shares of Tesla in a research note on Tuesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have given a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $324.53.

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.