Simplicity Wealth LLC Purchases 6,326 Shares of Tesla, Inc. $TSLA

Key Points

• Simplicity Wealth LLC increased its holdings in Tesla by 20.8%, acquiring an additional 6,326 shares during the second quarter, bringing its total shares to 36,675 valued at approximately $11.65 million.
• Goldman Sachs Group significantly raised its stake in Tesla by 322.1% in the first quarter, now owning over 26.5 million shares valued at nearly $6.89 billion.
• There has been notable insider selling at Tesla, with executives selling 202,606 shares worth nearly $75.6 million in the last three months, indicating a decrease in their ownership stakes.

Simplicity Wealth LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 20.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,675 shares of the electric vehicle producer's stock after acquiring an additional 6,326 shares during the period. Simplicity Wealth LLC's holdings in Tesla were worth $11,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. increased its stake 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 valued at $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. Nuveen LLC bought a new stake in Tesla in the first quarter valued at $3,247,619,000. Kingstone Capital Partners Texas LLC raised its holdings in shares of Tesla by 581,880.5% during the second quarter. Kingstone Capital Partners Texas LLC now owns 6,436,704 shares of the electric vehicle producer's stock valued at $2,044,683,000 after purchasing an additional 6,435,598 shares during the period. Amundi raised its holdings in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer's stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Tesla by 1.5% during 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 purchasing an additional 3,694,524 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla 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 sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's 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 completion of the transaction, the chief financial officer owned 9,856 shares of the company's stock, valued at $3,473,057.28. This trade represents a 20.91% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 202,606 shares of company stock valued at $75,588,902. 19.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on TSLA shares. Dbs Bank boosted their target price on Tesla from $300.00 to $450.00 in a research report on Wednesday, September 17th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. HSBC lifted their price target on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. JPMorgan Chase & Co. upped their price objective on shares of Tesla from $115.00 to $150.00 in a report on Friday. Finally, China Renaissance reiterated a "hold" rating and set a $349.00 price objective 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 issued a Buy rating, thirteen have assigned a Hold rating and eight have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $344.40.

Tesla Stock Performance

NASDAQ TSLA opened at $453.25 on Tuesday. The company has a fifty day moving average price of $366.57 and a 200-day moving average price of $324.02. The firm has a market cap of $1.51 trillion, a price-to-earnings ratio of 261.99, a PEG ratio of 14.93 and a beta of 2.08. 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.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm 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%.The firm's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS 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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