XY Planning Network Inc. Makes New $270,000 Investment in Tesla, Inc. $TSLA

Key Points

• XY Planning Network Inc. invested approximately $270,000 in Tesla, acquiring 849 shares of the electric vehicle producer's stock during the second quarter.
• Multiple institutional investors, including KWB Wealth and Conrad Siegel Investment Advisors, have increased their stakes in Tesla, with 66.20% of the stock currently owned by hedge funds and other institutional investors.
• Wall Street analysts have varying ratings for Tesla, with two analysts rating it a Strong Buy, nineteen a Buy, and a consensus price target of $332.33.

XY Planning Network Inc. acquired a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 849 shares of the electric vehicle producer's stock, valued at approximately $270,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. KWB Wealth grew its position in Tesla by 2.4% in the 2nd quarter. KWB Wealth now owns 1,381 shares of the electric vehicle producer's stock valued at $439,000 after buying an additional 33 shares in the last quarter. Conrad Siegel Investment Advisors Inc. boosted its stake in Tesla by 3.6% during the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer's stock worth $310,000 after buying an additional 34 shares in the last quarter. Acorn Wealth Advisors LLC lifted its holdings in shares of Tesla by 1.9% during 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 period. Solutions 4 Wealth Ltd raised its holdings in Tesla by 2.0% during the 1st quarter. Solutions 4 Wealth Ltd now owns 1,815 shares of the electric vehicle producer's stock worth $470,000 after purchasing an additional 36 shares during the last quarter. Finally, ACT Wealth Management LLC grew its position in shares of Tesla by 0.7% during the 2nd quarter. ACT Wealth Management LLC now owns 5,405 shares of the electric vehicle producer's stock worth $1,717,000 after buying an additional 36 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TSLA. Dbs Bank upped their price objective on Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Daiwa Capital Markets reiterated a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. The Goldman Sachs Group boosted their target price on Tesla from $300.00 to $395.00 and gave the company a "neutral" rating in a research note on Thursday, September 18th. Finally, Benchmark reiterated a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have assigned a Hold rating and nine have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $332.33.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm's stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $363.75, for a total value of $7,275,000.00. Following the completion of the transaction, the senior vice president owned 47,600 shares in the company, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 2,606 shares of the stock in a transaction dated Monday, September 8th. The stock was 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 in the company, valued at $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 208,606 shares of company stock worth $77,360,462 over the last 90 days. Company insiders own 19.90% of the company's stock.

Tesla Price Performance

Shares of Tesla stock opened at $440.40 on Monday. 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 company has a market capitalization of $1.46 trillion, a price-to-earnings ratio of 254.57, a PEG ratio of 15.36 and a beta of 2.06. Tesla, Inc. has a 52 week low of $212.11 and a 52 week high of $488.54. The stock's 50-day simple moving average is $352.05 and its 200-day simple moving average is $315.40.

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). The company 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 company's revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 earnings per share. As a group, analysts expect that Tesla, Inc. will post 2.56 earnings per share 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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