Tesla, Inc. (NASDAQ:TSLA) Position Increased by Xcel Wealth Management LLC

Xcel Wealth Management LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA) by 2.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,067 shares of the electric vehicle producer’s stock after buying an additional 265 shares during the period. Tesla makes up about 1.0% of Xcel Wealth Management LLC’s portfolio, making the stock its 27th largest holding. Xcel Wealth Management LLC’s holdings in Tesla were worth $3,419,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Von Berge Wealth Management Group LLC raised its stake in Tesla by 3.3% during the 1st quarter. Von Berge Wealth Management Group LLC now owns 6,092 shares of the electric vehicle producer’s stock valued at $1,071,000 after acquiring an additional 193 shares in the last quarter. Gleason Group Inc. bought a new stake in shares of Tesla during the first quarter valued at about $438,000. Prentice Wealth Management LLC lifted its holdings in Tesla by 11.1% in the first quarter. Prentice Wealth Management LLC now owns 1,934 shares of the electric vehicle producer’s stock worth $340,000 after purchasing an additional 194 shares during the period. First Bancorp Inc ME acquired a new position in Tesla during the 1st quarter valued at about $249,000. Finally, Arkfeld Wealth Strategies L.L.C. raised its position in shares of Tesla by 17.2% during the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 2,404 shares of the electric vehicle producer’s stock worth $413,000 after buying an additional 353 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

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 transaction, the director now directly owns 85,000 shares in the company, valued at $18,696,600. 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 the SEC website. In related news, CFO Vaibhav Taneja sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $250.00, for a total transaction of $2,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at $26,258,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 66,364 shares of the business’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the completion of the transaction, the director now directly owns 85,000 shares in the company, valued at approximately $18,696,600. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,661 shares of company stock worth $16,663,291 in the last 90 days. 25.10% of the stock is owned by company insiders.

Tesla Stock Performance

TSLA traded down $2.36 on Tuesday, hitting $216.49. The company had a trading volume of 27,822,318 shares, compared to its average volume of 93,809,586. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $271.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40. The company’s fifty day moving average price is $228.09 and its 200 day moving average price is $205.99. The stock has a market cap of $690.43 billion, a price-to-earnings ratio of 55.25, a price-to-earnings-growth ratio of 6.31 and a beta of 2.29.

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

Analyst Ratings Changes

A number of brokerages have issued reports on TSLA. Barclays decreased their price target on Tesla from $225.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, July 25th. Guggenheim lifted their target price on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Robert W. Baird reiterated an “outperform” rating and issued a $280.00 price target on shares of Tesla in a research report on Tuesday, August 20th. TD Cowen raised their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research report on Wednesday, July 3rd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $310.00 target price on shares of Tesla in a report on Thursday, October 3rd. Nine equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $211.63.

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.