Abich Financial Wealth Management LLC Makes New $700,000 Investment in Tesla, Inc. $TSLA

Abich Financial Wealth Management LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) in the third quarter, according to its most recent filing with the SEC. The firm purchased 1,575 shares of the electric vehicle producer’s stock, valued at approximately $700,000. Tesla accounts for about 0.2% of Abich Financial Wealth Management LLC’s portfolio, making the stock its 23rd largest position.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Chapman Financial Group LLC purchased a new stake in Tesla during the second quarter worth $26,000. LGT Financial Advisors LLC purchased a new stake in shares of Tesla in the 2nd quarter worth about $29,000. Manning & Napier Advisors LLC acquired a new stake in Tesla in the 3rd quarter valued at about $29,000. CoreFirst Bank & Trust purchased a new position in Tesla during the 2nd quarter valued at about $30,000. Finally, ESL Trust Services LLC raised its position 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 last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TSLA shares. Barclays reiterated a “neutral” rating on shares of Tesla in a research report on Friday, February 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $510.00 price target on shares of Tesla in a research report on Thursday, January 29th. Wall Street Zen raised Tesla from a “sell” rating to a “hold” rating in a report on Saturday, October 25th. Canaccord Genuity Group set a $520.00 price objective on Tesla in a research note on Thursday, January 29th. Finally, TD Cowen boosted their target price on shares of Tesla from $509.00 to $519.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Eighteen analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and nine have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $408.09.

Check Out Our Latest Research Report on TSLA

Insider Buying and Selling

In other news, Director Kimbal Musk sold 56,820 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total value of $25,606,501.20. Following the completion of the transaction, the director directly owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,637 shares of Tesla stock in a transaction on Monday, December 8th. The stock was sold at an average price of $443.93, for a total transaction of $1,170,643.41. Following the sale, the chief financial officer directly owned 13,757 shares in the company, valued at $6,107,145.01. This trade represents a 16.09% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 119,457 shares of company stock valued at $53,501,145. Corporate insiders own 19.90% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $417.07 on Friday. The firm’s fifty day simple moving average is $444.99 and its 200 day simple moving average is $413.39. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $498.83. The firm has a market capitalization of $1.57 trillion, a price-to-earnings ratio of 386.18, a PEG ratio of 14.50 and a beta of 1.86.

Tesla (NASDAQ:TSLAGet Free Report) last released its quarterly earnings data on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, beating the consensus estimate of $0.45 by $0.05. Tesla had a return on equity of 4.86% and a net margin of 4.00%.The company had revenue of $24.90 billion for the quarter, compared to analyst estimates of $24.75 billion. During the same period last year, the company posted $0.73 earnings per share. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Key Headlines Impacting Tesla

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Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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