IMG Wealth Management Inc. Acquires 174 Shares of Tesla, Inc. $TSLA

IMG Wealth Management Inc. boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 527.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 207 shares of the electric vehicle producer’s stock after purchasing an additional 174 shares during the period. IMG Wealth Management Inc.’s holdings in Tesla were worth $66,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock worth $63,983,418,000 after purchasing an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. lifted its stake in Tesla by 322.1% in the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after purchasing an additional 20,291,139 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Tesla by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 18,174,941 shares of the electric vehicle producer’s stock valued at $4,710,218,000 after buying an additional 849,091 shares during the period. Amundi grew its stake in shares of Tesla by 29.4% during the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after buying an additional 3,814,610 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Tesla by 17.6% in the first quarter. Invesco Ltd. now owns 14,786,414 shares of the electric vehicle producer’s stock worth $3,832,047,000 after buying an additional 2,211,300 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Trading Up 1.8%

NASDAQ:TSLA opened at $447.43 on Tuesday. Tesla, Inc. has a one year low of $212.11 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm has a market cap of $1.49 trillion, a P/E ratio of 258.63, a P/E/G ratio of 15.79 and a beta of 2.08. The firm has a 50-day simple moving average of $389.71 and a 200-day simple moving average of $335.51.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the firm posted $0.52 EPS. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TSLA shares. Baird R W upgraded Tesla from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Tesla from $345.00 to $435.00 and gave the company a “buy” rating in a research note on Friday, September 26th. CICC Research raised their price target on shares of Tesla from $360.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, September 18th. Glj Research reiterated a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Finally, TD Cowen lifted their price objective on shares of Tesla from $374.00 to $509.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have given a Hold rating and ten have given a Sell rating to the company. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $363.54.

Insider Activity

In other news, SVP Xiaotong Zhu sold 20,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president owned 47,600 shares in the company, valued at approximately $17,314,500. The trade was a 29.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the business’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the sale, the director owned 637,031 shares of the company’s stock, valued at approximately $269,260,263.08. This represents a 8.61% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 202,606 shares of company stock worth $75,588,902. 19.90% of the stock is currently owned by corporate insiders.

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.