Purus Wealth Management LLC Increases Position in Tesla, Inc. $TSLA

Purus Wealth Management LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 5.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,589 shares of the electric vehicle producer’s stock after purchasing an additional 366 shares during the quarter. Purus Wealth Management LLC’s holdings in Tesla were worth $2,093,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of TSLA. Portside Wealth Group LLC boosted its position in Tesla by 9.5% during the second quarter. Portside Wealth Group LLC now owns 17,227 shares of the electric vehicle producer’s stock worth $5,472,000 after acquiring an additional 1,501 shares during the last quarter. Inspire Advisors LLC lifted its stake in shares of Tesla by 32.0% during the 2nd quarter. Inspire Advisors LLC now owns 2,923 shares of the electric vehicle producer’s stock worth $928,000 after purchasing an additional 709 shares during the period. United Advisor Group LLC increased its position in shares of Tesla by 10.2% in the second quarter. United Advisor Group LLC now owns 13,917 shares of the electric vehicle producer’s stock worth $4,421,000 after acquiring an additional 1,287 shares in the last quarter. First American Trust FSB lifted its holdings in shares of Tesla by 26.1% during the 2nd quarter. First American Trust FSB now owns 1,934 shares of the electric vehicle producer’s stock valued at $614,000 after acquiring an additional 400 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in Tesla by 18.6% during the 2nd quarter. Empowered Funds LLC now owns 113,592 shares of the electric vehicle producer’s stock worth $36,084,000 after purchasing an additional 17,823 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

TSLA opened at $408.92 on Tuesday. The company has a market capitalization of $1.36 trillion, a P/E ratio of 272.61, a PEG ratio of 16.84 and a beta of 2.06. The company has a 50-day moving average of $430.92 and a 200-day moving average of $362.23. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 2.07. Tesla, Inc. has a 1-year low of $214.25 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Thursday, October 23rd. The electric vehicle producer reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $28.10 billion for the quarter, compared to the consensus estimate of $24.98 billion. Tesla had a return on equity of 6.61% and a net margin of 5.51%.Tesla’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. Equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director James R. Murdoch sold 120,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $350.29, for a total value of $42,034,800.00. Following the transaction, the director directly owned 697,031 shares in the company, valued at approximately $244,162,988.99. This trade represents a 14.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the sale, the chief financial officer directly owned 9,856 shares of the company’s stock, valued at approximately $3,473,057.28. This represents a 20.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 202,606 shares of company stock worth $75,588,902 over the last ninety days. 19.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Glj Research reaffirmed a “sell” rating on shares of Tesla in a research report on Wednesday, October 22nd. Dbs Bank upgraded Tesla to a “hold” rating in a report on Wednesday, November 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $500.00 target price on shares of Tesla in a research report on Thursday, October 23rd. Baird R W upgraded shares of Tesla from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Finally, BNP Paribas Exane began coverage on shares of Tesla in a report on Thursday, October 16th. They issued an “underperform” rating and a $307.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twelve have assigned a Hold rating and ten have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $394.31.

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.