Tesla, Inc. $TSLA Shares Bought by Apex Wealth Management LLC

Apex Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 2.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,903 shares of the electric vehicle producer’s stock after buying an additional 247 shares during the quarter. Tesla accounts for 3.3% of Apex Wealth Management LLC’s holdings, making the stock its 11th largest holding. Apex Wealth Management LLC’s holdings in Tesla were worth $4,099,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. First Merchants Corp boosted its stake in shares of Tesla by 1.3% in the second quarter. First Merchants Corp now owns 2,413 shares of the electric vehicle producer’s stock valued at $767,000 after purchasing an additional 31 shares during the period. Alaska Wealth Advisors lifted its holdings in Tesla by 3.4% during the 2nd quarter. Alaska Wealth Advisors now owns 985 shares of the electric vehicle producer’s stock worth $313,000 after buying an additional 32 shares in the last quarter. KWB Wealth boosted 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 during the period. Conrad Siegel Investment Advisors Inc. grew its stake in shares of Tesla by 3.6% in the second quarter. Conrad Siegel Investment Advisors Inc. now owns 976 shares of the electric vehicle producer’s stock worth $310,000 after acquiring an additional 34 shares in the last quarter. Finally, Guyasuta Investment Advisors Inc. boosted its stake in shares of Tesla by 0.7% in the 2nd quarter. Guyasuta Investment Advisors Inc. now owns 5,107 shares of the electric vehicle producer’s stock valued at $1,622,000 after buying an additional 34 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. TD Cowen boosted their target price on Tesla from $374.00 to $509.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesla in a report on Wednesday, October 15th. BNP Paribas Exane initiated coverage on Tesla in a research note on Thursday, October 16th. They set an “underperform” rating and a $307.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Tesla from $440.00 to $470.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Piper Sandler lifted their price objective on Tesla from $400.00 to $500.00 and gave the stock an “overweight” rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, thirteen have assigned a Hold rating and eleven have issued a Sell rating to the company’s stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $391.08.

Tesla Price Performance

TSLA stock opened at $439.62 on Wednesday. The firm has a market cap of $1.46 trillion, a P/E ratio of 293.08, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The stock has a 50-day simple moving average of $425.40 and a 200-day simple moving average of $358.68. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. Tesla, Inc. has a 1 year low of $214.25 and a 1 year high of $488.54.

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

Insider Transactions at Tesla

In related news, Director James R. Murdoch sold 120,000 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total transaction of $42,034,800.00. Following the sale, the director owned 697,031 shares in the company, valued at $244,162,988.99. This represents a 14.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of the company’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 transaction, the senior vice president owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. The trade was a 29.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 202,606 shares of company stock valued at $75,588,902. Insiders own 19.90% of the company’s stock.

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.