Daner Wealth Management LLC Takes Position in Tesla, Inc. $TSLA

Daner Wealth Management LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 1,400 shares of the electric vehicle producer’s stock, valued at approximately $477,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. LGT Financial Advisors LLC purchased a new position in shares of Tesla during the 2nd quarter valued at about $29,000. ESL Trust Services LLC grew its holdings in Tesla by 1,900.0% during the second quarter. ESL Trust Services LLC now owns 100 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 95 shares during the period. Chelsea Counsel Co. raised its position in Tesla by 59.7% during the first quarter. Chelsea Counsel Co. now owns 107 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 40 shares in the last quarter. Evergreen Private Wealth LLC lifted its holdings in Tesla by 270.0% in the second quarter. Evergreen Private Wealth LLC now owns 111 shares of the electric vehicle producer’s stock valued at $35,000 after acquiring an additional 81 shares during the period. Finally, Glynn Capital Management LLC purchased a new stake in Tesla in the 2nd quarter worth approximately $35,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 20,000 shares of the firm’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 value of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares of the company’s stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer directly owned 9,856 shares in the company, valued at $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 82,606 shares of company stock worth $33,554,102 over the last three months. Insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TSLA shares. The Goldman Sachs Group cut their target price on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating for the company in a report on Thursday, October 23rd. Bank of America raised their price target on shares of Tesla from $341.00 to $471.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Wedbush reiterated an “outperform” rating and issued a $600.00 price objective on shares of Tesla in a research report on Wednesday, November 5th. Dbs Bank upgraded Tesla to a “hold” rating in a research report on Wednesday, November 5th. Finally, Canaccord Genuity Group reduced their price target on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, thirteen have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus price target of $398.92.

Tesla Price Performance

NASDAQ:TSLA opened at $455.00 on Friday. The stock has a 50 day moving average of $434.93 and a two-hundred day moving average of $372.61. Tesla, Inc. has a 12 month low of $214.25 and a 12 month high of $488.54. The firm has a market cap of $1.51 trillion, a P/E ratio of 303.33, a price-to-earnings-growth ratio of 15.37 and a beta of 1.87. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

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