Tesla, Inc. $TSLA Shares Purchased by Hobbs Wealth Management LLC

Hobbs Wealth Management LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 22.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,247 shares of the electric vehicle producer’s stock after acquiring an additional 227 shares during the period. Tesla makes up 0.4% of Hobbs Wealth Management LLC’s investment portfolio, making the stock its 29th largest holding. Hobbs Wealth Management LLC’s holdings in Tesla were worth $396,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TSLA. Vanguard Group Inc. lifted its holdings in shares of Tesla by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock valued at $79,856,764,000 after buying an additional 4,502,976 shares during the period. Geode Capital Management LLC raised its position in Tesla by 2.0% in the second quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock worth $20,480,477,000 after acquiring an additional 1,269,304 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings 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 valued at $6,891,201,000 after acquiring an additional 20,291,139 shares during the period. Legal & General Group Plc boosted its position in shares of Tesla by 5.9% during the 2nd quarter. Legal & General Group Plc now owns 20,225,098 shares of the electric vehicle producer’s stock worth $6,424,705,000 after purchasing an additional 1,134,678 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Tesla by 2.2% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 18,576,698 shares of the electric vehicle producer’s stock worth $5,901,074,000 after purchasing an additional 401,757 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 20,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president directly owned 47,600 shares of the company’s stock, valued at approximately $17,314,500. This trade represents a 29.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 2,606 shares of Tesla stock in a transaction on Monday, September 8th. The shares were sold at an average price of $352.38, for a total transaction of $918,302.28. Following the completion of the transaction, the chief financial officer owned 9,856 shares in the company, valued at approximately $3,473,057.28. This trade represents a 20.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 82,606 shares of company stock valued at $33,554,102. Insiders own 19.90% of the company’s stock.

Tesla Price Performance

NASDAQ:TSLA opened at $426.58 on Thursday. Tesla, Inc. has a 12-month low of $214.25 and a 12-month high of $488.54. The firm has a market cap of $1.42 trillion, a price-to-earnings ratio of 284.39, a price-to-earnings-growth ratio of 16.84 and a beta of 2.06. The company’s 50-day moving average is $433.68 and its two-hundred day moving average is $367.76. The company has a current ratio of 2.07, a quick ratio of 1.67 and a debt-to-equity ratio of 0.07.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. William Blair reiterated a “market perform” rating on shares of Tesla in a research note on Friday, September 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $500.00 price target on shares of Tesla in a research note on Thursday, October 23rd. Canaccord Genuity Group dropped their price objective on Tesla from $490.00 to $482.00 and set a “buy” rating for the company in a research note on Thursday, October 23rd. Mizuho set a $475.00 target price on Tesla and gave the company an “outperform” rating in a report on Tuesday. Finally, DZ Bank reaffirmed a “sell” rating on shares of Tesla in a research note on Thursday, October 23rd. One investment analyst has 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $394.03.

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.