Wealthcare Capital Management LLC Reduces Position in Tesla, Inc. $TSLA

Wealthcare Capital Management LLC decreased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 40.2% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,113 shares of the electric vehicle producer's stock after selling 747 shares during the quarter. Wealthcare Capital Management LLC's holdings in Tesla were worth $354,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the stock. Goldman Sachs Group Inc. grew its holdings in shares of Tesla by 322.1% in the first 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 period. Nuveen LLC purchased a new position in Tesla in the first quarter worth about $3,247,619,000. Kingstone Capital Partners Texas LLC increased its position in shares of Tesla by 581,880.5% during the 2nd 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 last quarter. Amundi lifted its stake 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 purchasing an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Tesla by 1.5% in 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 buying an additional 3,694,524 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on TSLA shares. Royal Bank Of Canada reaffirmed a "buy" rating on shares of Tesla in a report on Friday, September 26th. Deutsche Bank Aktiengesellschaft raised their target price on Tesla from $345.00 to $435.00 and gave the stock a "buy" rating in a report on Friday, September 26th. Dbs Bank boosted their price target on Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. Daiwa Capital Markets reaffirmed a "neutral" rating on shares of Tesla in a research note on Sunday, July 27th. Finally, Bank of America boosted their price objective on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and eight have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $343.43.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of the firm's stock in a transaction dated 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 trade represents a 20.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated 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 owned 47,600 shares of the company's stock, valued at $17,314,500. The trade was a 29.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 204,606 shares of company stock worth $76,188,902 over the last quarter. Company insiders own 19.90% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $429.83 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The company has a market capitalization of $1.43 trillion, a price-to-earnings ratio of 248.46, a PEG ratio of 14.93 and a beta of 2.08. The firm's 50-day moving average is $364.02 and its 200 day moving average is $322.58.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results 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 net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter last year, the firm earned $0.52 EPS. The firm's quarterly revenue was down 11.8% on a year-over-year basis. Research analysts predict that Tesla, Inc. will post 2.56 EPS 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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