Pure Financial Advisors LLC Buys 3,231 Shares of Tesla, Inc. $TSLA

Pure Financial Advisors LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 12.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,481 shares of the electric vehicle producer’s stock after buying an additional 3,231 shares during the period. Pure Financial Advisors LLC’s holdings in Tesla were worth $9,365,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted 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 valued at $63,983,418,000 after purchasing an additional 3,694,524 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Tesla by 322.1% in the 1st 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Tesla by 4.9% in the 1st 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 in the last quarter. Amundi boosted its stake in shares of Tesla by 29.4% in the 1st 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 in the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Tesla by 17.6% in the 1st 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 in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Down 5.1%

Shares of NASDAQ TSLA opened at $436.00 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $212.11 and a 12 month high of $488.54. The firm has a market capitalization of $1.45 trillion, a PE ratio of 252.02, a price-to-earnings-growth ratio of 15.97 and a beta of 2.08. The firm has a fifty day simple moving average of $361.74 and a two-hundred day simple moving average of $319.98.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Dbs Bank upped their price objective on shares of Tesla from $300.00 to $450.00 in a research note on Wednesday, September 17th. Baird R W raised shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Stifel Nicolaus set a $440.00 price target on shares of Tesla in a research report on Friday, September 5th. Piper Sandler increased their price target on shares of Tesla from $400.00 to $500.00 and gave the company an “overweight” rating in a research report on Monday, September 22nd. Finally, UBS Group reissued a “sell” rating and set a $215.00 price target on shares of Tesla in a research report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twelve have issued a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $341.46.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $292.89, for a total value of $1,171,560.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at $1,735,080.36. This trade represents a 40.31% decrease in their position. The sale 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 stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of 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. The disclosure for this sale can be found here. Insiders sold a total of 208,606 shares of company stock worth $77,360,462 in the last three months. 19.90% of the stock is owned by corporate insiders.

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.