Total Clarity Wealth Management Inc. Buys 3,553 Shares of Tesla, Inc. $TSLA

Total Clarity Wealth Management Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 190.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,415 shares of the electric vehicle producer's stock after purchasing an additional 3,553 shares during the period. Total Clarity Wealth Management Inc.'s holdings in Tesla were worth $1,720,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Tesla by 1.5% during the first 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 in the last quarter. Goldman Sachs Group Inc. grew its position in 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 purchasing an additional 20,291,139 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 purchasing an additional 849,091 shares in the last quarter. Amundi grew its position in 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 purchasing an additional 3,814,610 shares in the last quarter. Finally, Invesco Ltd. grew its position in 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 purchasing an additional 2,211,300 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 20,000 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were 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. The trade was a 20.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is owned by corporate insiders.

Tesla Stock Down 1.5%

TSLA opened at $429.24 on Wednesday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.43 trillion, a price-to-earnings ratio of 248.12, a PEG ratio of 15.71 and a beta of 2.08. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company's 50-day moving average price is $380.91 and its two-hundred day moving average price is $330.17.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for 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 business's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on TSLA. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research report on Thursday, July 24th. Industrial Alliance Securities set a $300.00 price objective on shares of Tesla in a research report on Monday. TD Cowen upped their price objective on shares of Tesla from $374.00 to $509.00 and gave the stock a "buy" rating in a research report on Thursday, October 9th. Canaccord Genuity Group upped their price objective on shares of Tesla from $333.00 to $490.00 and gave the stock a "buy" rating in a research report on Tuesday, September 30th. Finally, Melius assumed coverage on shares of Tesla in a research report on Monday. They issued a "buy" rating and a $520.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have assigned a Hold rating and eight have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $363.03.

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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