Precision Wealth Strategies LLC Buys Shares of 1,013 Tesla, Inc. $TSLA

Key Points

• Precision Wealth Strategies LLC acquired 1,013 shares of Tesla, valued at approximately $322,000, during the 2nd quarter, highlighting continued interest in the electric vehicle producer.
• Prominent investors like Vanguard and Goldman Sachs have also increased their holdings in Tesla, with Vanguard owning nearly 246.9 million shares after raising its position by 1.5%.
• Despite strong institutional support, Tesla’s stock opened at $436.00 and has recently experienced fluctuations, with shares down 5.1% along with a mixed consensus rating from analysts.

Precision Wealth Strategies LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,013 shares of the electric vehicle producer's stock, valued at approximately $322,000.

Several other large investors have also recently made changes to their positions in the stock. 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 acquiring an additional 3,694,524 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Tesla by 322.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Tesla by 4.9% in the 1st 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 last quarter. Amundi lifted its holdings in shares of Tesla by 29.4% in 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 during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Tesla by 17.6% in the 1st quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer's stock worth $3,832,047,000 after acquiring an additional 2,211,300 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction on 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 transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James R. Murdoch sold 120,000 shares of the firm's stock in a transaction on 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 in the company, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 208,606 shares of company stock valued at $77,360,462. Insiders own 19.90% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on TSLA. Wedbush upped their price objective on shares of Tesla from $500.00 to $600.00 and gave the stock an "outperform" rating in a report on Friday, September 26th. Glj Research reiterated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. Bank of America increased their target price on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Mizuho increased their target price on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a report on Tuesday, September 23rd. Finally, China Renaissance reiterated a "hold" rating and set a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have assigned a Hold rating and eight have given a Sell rating to the company's stock. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus price target of $341.46.

Tesla Trading Down 5.1%

Shares of Tesla stock opened at $436.00 on Friday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The company has a market capitalization of $1.45 trillion, a P/E ratio of 252.02, a PEG ratio of 15.97 and a beta of 2.08. The company's fifty day moving average is $361.74 and its two-hundred day moving average is $319.98.

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). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period in the previous year, the business posted $0.52 earnings per share. The company's revenue for the quarter was down 11.8% on a year-over-year basis. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current 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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