Precision Wealth Strategies LLC Invests $322,000 in Tesla, Inc. $TSLA

Precision Wealth Strategies LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,013 shares of the electric vehicle producer’s stock, valued at approximately $322,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Tesla by 1.5% in 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 acquiring an additional 3,694,524 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of 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 valued at $6,891,201,000 after purchasing an additional 20,291,139 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Tesla by 4.9% in 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 purchasing an additional 849,091 shares during the period. Amundi lifted its stake in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock valued at $4,482,789,000 after purchasing an additional 3,814,610 shares during the period. Finally, Invesco Ltd. lifted its stake 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 valued at $3,832,047,000 after purchasing an additional 2,211,300 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Wedbush raised their price objective on shares of Tesla from $500.00 to $600.00 and gave the company an “outperform” rating in a research note on Friday, September 26th. Dbs Bank raised their price objective on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Glj Research restated a “sell” rating on shares of Tesla in a research report on Thursday, July 24th. Finally, China Renaissance restated a “hold” rating and set a $349.00 target price on shares of Tesla in a research report on Friday, July 25th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twelve have given a Hold rating and eight have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $341.46.

Tesla Price Performance

Tesla stock opened at $436.00 on Friday. Tesla, Inc. has a 1 year low of $212.11 and a 1 year high of $488.54. The firm has a 50 day moving average price of $361.74 and a 200 day moving average price of $319.98. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 252.02, a PEG ratio of 15.97 and a beta of 2.08. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

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

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 120,000 shares of Tesla stock in a transaction that occurred on 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 transaction, the director directly owned 697,031 shares of the company’s stock, valued at $244,162,988.99. The trade was a 14.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the transaction, the senior vice president directly owned 47,600 shares in the company, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 208,606 shares of company stock valued at $77,360,462 over the last ninety days. Corporate insiders own 19.90% of the company’s stock.

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.