Pacific Wealth Strategies Group Inc. Takes $208,000 Position in Tesla, Inc. $TSLA

Pacific Wealth Strategies Group Inc. bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 675 shares of the electric vehicle producer’s stock, valued at approximately $208,000.

Other hedge funds have also recently made changes to their positions in the company. Siren L.L.C. acquired a new stake in Tesla during the first quarter valued at $2,332,000. Zuckerman Investment Group LLC grew its position in Tesla by 6.9% during the first quarter. Zuckerman Investment Group LLC now owns 12,748 shares of the electric vehicle producer’s stock valued at $3,304,000 after buying an additional 826 shares during the period. Keystone Global Partners LLC acquired a new stake in Tesla during the first quarter valued at $594,000. Strs Ohio acquired a new stake in Tesla during the first quarter valued at $205,495,000. Finally, AustralianSuper Pty Ltd grew its position in Tesla by 1,823.0% during the second quarter. AustralianSuper Pty Ltd now owns 68,325 shares of the electric vehicle producer’s stock valued at $21,704,000 after buying an additional 64,772 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ:TSLA opened at $468.37 on Tuesday. The company’s 50-day moving average price is $412.95 and its 200-day moving average price is $350.47. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.56 trillion, a P/E ratio of 312.25, a P/E/G ratio of 16.84 and a beta of 2.08. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Wednesday, October 22nd. The electric vehicle producer reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a net margin of 5.51% and a return on equity of 6.61%. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 2,606 shares of the firm’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total value of $918,302.28. Following the transaction, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 20,000 shares of the firm’s 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 directly owned 47,600 shares in the company, valued at approximately $17,314,500. This represents a 29.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 202,606 shares of company stock valued at $75,588,902. Corporate insiders own 19.90% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on TSLA shares. BNP Paribas Exane started coverage on shares of Tesla in a research report on Thursday, October 16th. They set an “underperform” rating and a $307.00 price target on the stock. New Street Research lifted their target price on shares of Tesla from $465.00 to $520.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group dropped their target price on shares of Tesla from $425.00 to $400.00 and set a “neutral” rating on the stock in a research report on Thursday, October 23rd. Guggenheim reiterated a “sell” rating and issued a $175.00 target price on shares of Tesla in a research report on Wednesday, July 23rd. Finally, HSBC lifted their target price on shares of Tesla from $120.00 to $127.00 in a research report on Monday, September 29th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, twelve have assigned a Hold rating and eleven have issued a Sell rating to the company. According to MarketBeat, Tesla currently has a consensus rating of “Hold” and a consensus target price of $390.27.

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.