Pure Financial Advisors LLC Grows Holdings in Tesla, Inc. $TSLA

Key Points

• Pure Financial Advisors LLC increased its holdings in Tesla, Inc. by 12.3% during the second quarter, owning 29,481 shares valued at approximately $9.36 million.
• Several hedge funds and institutional investors have also boosted their stakes in Tesla, with around 66.20% of the stock currently owned by these entities.
• Wall Street analysts have a consensus rating of "Hold" on Tesla's stock, with a current average price target of $341.46, reflecting a mix of buy, hold, and sell ratings among the analysts.

Pure Financial Advisors LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 12.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 29,481 shares of the electric vehicle producer's stock after purchasing an additional 3,231 shares during the quarter. Pure Financial Advisors LLC's holdings in Tesla were worth $9,365,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KWB Wealth boosted its holdings in Tesla by 2.4% during the second quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock worth $439,000 after purchasing an additional 33 shares during the last quarter. Conrad Siegel Investment Advisors Inc. boosted its stake in Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock valued at $310,000 after acquiring an additional 34 shares during the last quarter. Guyasuta Investment Advisors Inc. boosted its stake in Tesla by 0.7% in the second quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer's stock valued at $1,622,000 after acquiring an additional 34 shares during the last quarter. Kelly Financial Services LLC boosted its stake in Tesla by 2.7% in the second quarter. Kelly Financial Services LLC now owns 1,331 shares of the electric vehicle producer's stock valued at $423,000 after acquiring an additional 35 shares during the last quarter. Finally, Acorn Wealth Advisors LLC boosted its stake in Tesla by 1.9% in the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after acquiring an additional 36 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TSLA. CICC Research boosted their target price on shares of Tesla from $360.00 to $450.00 and gave the company an "outperform" rating in a research note on Thursday, September 18th. Bank of America boosted their target price on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Finally, HSBC boosted their target price on shares of Tesla from $120.00 to $127.00 in a research note on Monday. Two equities 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $341.46.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares in the company, valued at $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 208,606 shares of company stock valued at $77,360,462. Company insiders own 19.90% of the company's stock.

Tesla Stock Performance

Tesla stock opened at $436.00 on Friday. The firm's 50 day simple moving average is $361.74 and its 200 day simple moving average is $319.98. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.45 trillion, a PE ratio of 252.02, a price-to-earnings-growth ratio of 15.97 and a beta of 2.08. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54.

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

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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