CW Advisors LLC Grows Position in Tesla, Inc. $TSLA

CW Advisors LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 65.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 46,694 shares of the electric vehicle producer’s stock after purchasing an additional 18,498 shares during the period. CW Advisors LLC’s holdings in Tesla were worth $14,826,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Acorns Advisers LLC lifted its position in shares of Tesla by 14.4% during the 2nd quarter. Acorns Advisers LLC now owns 27,844 shares of the electric vehicle producer’s stock valued at $8,845,000 after buying an additional 3,501 shares in the last quarter. JT Stratford LLC raised its stake in Tesla by 44.6% during the 2nd quarter. JT Stratford LLC now owns 22,107 shares of the electric vehicle producer’s stock worth $7,023,000 after acquiring an additional 6,817 shares during the period. McCollum Christoferson Group LLC lifted its holdings in Tesla by 0.7% during the second quarter. McCollum Christoferson Group LLC now owns 23,187 shares of the electric vehicle producer’s stock valued at $7,366,000 after purchasing an additional 156 shares in the last quarter. IAG Wealth Partners LLC lifted its holdings in Tesla by 32.2% during the second quarter. IAG Wealth Partners LLC now owns 513 shares of the electric vehicle producer’s stock valued at $163,000 after purchasing an additional 125 shares in the last quarter. Finally, River Wealth Advisors LLC boosted its position in shares of Tesla by 74.6% in the second quarter. River Wealth Advisors LLC now owns 1,365 shares of the electric vehicle producer’s stock worth $434,000 after purchasing an additional 583 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. BNP Paribas Exane started coverage on shares of Tesla in a research report on Thursday, October 16th. They set an “underperform” rating and a $307.00 price objective on the stock. Morgan Stanley reissued an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. Melius Research set a $520.00 price objective on Tesla and gave the company a “buy” rating in a research report on Monday, October 13th. Evercore ISI increased their target price on Tesla from $235.00 to $300.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Finally, DZ Bank reissued a “sell” rating on shares of Tesla in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, thirteen have assigned a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $398.92.

Tesla Stock Up 4.1%

Shares of TSLA opened at $446.74 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.07 and a quick ratio of 1.67. The stock has a market capitalization of $1.49 trillion, a price-to-earnings ratio of 297.83, a price-to-earnings-growth ratio of 14.53 and a beta of 1.87. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54. The business’s 50 day simple moving average is $434.02 and its 200-day simple moving average is $371.05.

Tesla (NASDAQ:TSLA) last posted its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $28.10 billion during the quarter, compared to analyst estimates of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. Tesla’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the company’s stock in a transaction dated 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 directly owned 9,856 shares in the company, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director directly owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. The trade was a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 82,606 shares of company stock worth $33,554,102 in the last three months. Insiders own 19.90% of the company’s stock.

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.