Sax Wealth Advisors LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Sax Wealth Advisors LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 31.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 2,569 shares of the electric vehicle producer’s stock after purchasing an additional 622 shares during the period. Sax Wealth Advisors LLC’s holdings in Tesla were worth $672,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TSLA. Clean Energy Transition LLP raised its holdings in shares of Tesla by 347.7% during the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after acquiring an additional 6,764,300 shares during the period. Strategic Financial Concepts LLC raised its holdings in shares of Tesla by 21,816.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock worth $1,167,970,000 after acquiring an additional 5,875,484 shares during the period. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after acquiring an additional 3,795,748 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Tesla by 236.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock worth $416,341,000 after acquiring an additional 1,479,378 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Tesla by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after acquiring an additional 1,125,329 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total transaction of $14,597,425.44. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $18,696,600. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 74,661 shares of company stock worth $16,663,291. 20.70% of the stock is owned by insiders.

Tesla Price Performance

TSLA stock opened at $220.89 on Friday. The business has a 50 day moving average price of $227.25 and a 200 day moving average price of $204.80. The stock has a market cap of $705.66 billion, a price-to-earnings ratio of 62.05, a PEG ratio of 5.94 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $271.00. The company has a quick ratio of 1.40, a current ratio of 1.91 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The business had revenue of $25.50 billion for the quarter, compared to analysts’ expectations of $24.38 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. Tesla’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that Tesla, Inc. will post 1.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on TSLA shares. TD Cowen raised their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Wolfe Research started coverage on Tesla in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. New Street Research downgraded Tesla from a “buy” rating to a “neutral” rating and set a $225.00 price objective for the company. in a research report on Wednesday, July 24th. Canaccord Genuity Group reissued a “buy” rating and set a $254.00 price objective on shares of Tesla in a research report on Friday, September 13th. Finally, Sanford C. Bernstein reissued an “underperform” rating and set a $120.00 price objective on shares of Tesla in a research report on Thursday, October 3rd. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $210.72.

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.