Tesla, Inc. $TSLA Shares Acquired by Chokshi & Queen Wealth Advisors Inc

Key Points

• Chokshi & Queen Wealth Advisors Inc increased its holding in Tesla, Inc. by 6.7% during Q2, owning 11,817 shares now valued at approximately $3.75 million.
• Insider activity saw James R. Murdoch selling 60,000 shares for over $25 million, reducing his ownership by 8.61%.
• Analysts have set a consensus rating of "Hold" for Tesla, with an average target price of $363.54, despite varied ratings ranging from "Strong Buy" to "Sell."

Chokshi & Queen Wealth Advisors Inc raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 11,817 shares of the electric vehicle producer's stock after purchasing an additional 740 shares during the quarter. Tesla makes up approximately 2.2% of Chokshi & Queen Wealth Advisors Inc's investment portfolio, making the stock its 9th largest holding. Chokshi & Queen Wealth Advisors Inc's holdings in Tesla were worth $3,754,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the 1st quarter worth approximately $27,000. Chelsea Counsel Co. boosted its holdings in shares of Tesla by 59.7% during the 1st quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 40 shares in the last quarter. Centennial Bank AR boosted its holdings in shares of Tesla by 833.3% during the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock worth $29,000 after buying an additional 100 shares in the last quarter. LGT Financial Advisors LLC bought a new position in shares of Tesla during the 2nd quarter worth approximately $29,000. Finally, Compass Wealth Management LLC boosted its holdings in shares of Tesla by 360.0% during the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer's stock worth $30,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity

In other news, Director James R. Murdoch sold 60,000 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director directly owned 637,031 shares of the company's stock, valued at $269,260,263.08. This trade represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm'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 sale, the chief financial officer directly owned 9,856 shares of the company's stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 202,606 shares of company stock valued at $75,588,902 in the last ninety days. 19.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TSLA has been the topic of a number of research analyst reports. Baird R W upgraded Tesla from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. The Goldman Sachs Group lifted their price target on shares of Tesla from $395.00 to $425.00 and gave the company a "neutral" rating in a research report on Friday, October 3rd. Benchmark reissued a "buy" rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Robert W. Baird raised shares of Tesla from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $320.00 to $548.00 in a research report on Friday, September 19th. Finally, Morgan Stanley reissued an "overweight" rating on shares of Tesla in a research report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $363.54.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $442.60 on Wednesday. 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 stock's fifty day simple moving average is $391.74 and its two-hundred day simple moving average is $336.26. Tesla, Inc. has a 1-year low of $212.11 and a 1-year high of $488.54. The stock has a market cap of $1.47 trillion, a PE ratio of 255.84, a price-to-earnings-growth ratio of 16.08 and a beta of 2.08.

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 for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the business posted $0.52 earnings per share. Tesla's revenue was down 11.8% on a year-over-year basis. As a group, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.

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