RWA Wealth Partners LLC Acquires 7,672 Shares of Tesla, Inc. $TSLA

RWA Wealth Partners LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLAFree Report) by 37.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,109 shares of the electric vehicle producer’s stock after acquiring an additional 7,672 shares during the quarter. RWA Wealth Partners LLC’s holdings in Tesla were worth $12,501,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Tesla during the 2nd quarter worth about $11,839,824,000. Vanguard Group Inc. increased its stake in shares of Tesla by 1.8% during the second quarter. Vanguard Group Inc. now owns 251,390,681 shares of the electric vehicle producer’s stock worth $79,856,764,000 after purchasing an additional 4,502,976 shares during the period. Amundi lifted its holdings in Tesla by 20.4% during the 2nd quarter. Amundi now owns 20,194,152 shares of the electric vehicle producer’s stock worth $6,374,284,000 after purchasing an additional 3,422,270 shares during the last quarter. Jennison Associates LLC boosted its stake in Tesla by 38.3% in the 3rd quarter. Jennison Associates LLC now owns 10,909,666 shares of the electric vehicle producer’s stock valued at $4,851,747,000 after purchasing an additional 3,021,550 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Tesla by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 64,767,993 shares of the electric vehicle producer’s stock valued at $20,480,477,000 after buying an additional 1,269,304 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $409.38 on Wednesday. The company has a market capitalization of $1.54 trillion, a P/E ratio of 379.06, a PEG ratio of 14.13 and a beta of 1.86. The company has a fifty day moving average price of $437.53 and a 200-day moving average price of $420.08. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.77 and a current ratio of 2.16. Tesla, Inc. has a 52-week low of $214.25 and a 52-week high of $498.83.

Tesla (NASDAQ:TSLAGet Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The electric vehicle producer reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $24.90 billion during the quarter, compared to the consensus estimate of $24.75 billion. Tesla had a return on equity of 4.86% and a net margin of 4.00%.Tesla’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.73 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 56,820 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $450.66, for a total transaction of $25,606,501.20. Following the completion of the transaction, the director owned 1,391,615 shares in the company, valued at approximately $627,145,215.90. This trade represents a 3.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James R. Murdoch sold 60,000 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $445.40, for a total transaction of $26,724,000.00. Following the sale, the director owned 577,031 shares of the company’s stock, valued at approximately $257,009,607.40. This trade represents a 9.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 119,457 shares of company stock worth $53,501,145 over the last ninety days. 19.90% of the stock is owned by insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of analyst reports. China Renaissance lifted their price target on shares of Tesla from $380.00 to $382.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. CICC Research raised their price target on Tesla from $450.00 to $500.00 and gave the stock an “outperform” rating in a research report on Thursday, December 18th. William Blair reaffirmed a “market perform” rating on shares of Tesla in a report on Friday, January 2nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $510.00 target price on shares of Tesla in a report on Thursday, January 29th. Finally, Dbs Bank raised shares of Tesla to a “hold” rating in a research note on Wednesday, November 5th. Eighteen analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $408.09.

Check Out Our Latest Analysis on TSLA

Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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