Able Wealth Management LLC Makes New $80,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Able Wealth Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 321 shares of the electric vehicle producer’s stock, valued at approximately $80,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Kesler Norman & Wride LLC increased its holdings in Tesla by 80.8% in the 3rd quarter. Kesler Norman & Wride LLC now owns 1,634 shares of the electric vehicle producer’s stock worth $409,000 after purchasing an additional 730 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in Tesla during the 3rd quarter worth approximately $68,082,000. Envestnet Portfolio Solutions Inc. bought a new stake in Tesla during the 3rd quarter worth approximately $14,050,000. FMR LLC raised its stake in shares of Tesla by 0.9% during the third quarter. FMR LLC now owns 29,040,734 shares of the electric vehicle producer’s stock valued at $7,266,572,000 after acquiring an additional 269,182 shares during the last quarter. Finally, Laidlaw Wealth Management LLC lifted its holdings in shares of Tesla by 7.1% during the third quarter. Laidlaw Wealth Management LLC now owns 16,660 shares of the electric vehicle producer’s stock worth $4,169,000 after purchasing an additional 1,105 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Transactions at Tesla

In related news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The disclosure for this sale can be found here. In the last three months, insiders sold 104,855 shares of company stock worth $19,285,643. 25.10% of the stock is currently owned by corporate insiders.

Tesla Trading Down 2.4 %

Shares of Tesla stock opened at $178.01 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29. The firm has a market cap of $567.71 billion, a PE ratio of 45.41, a PEG ratio of 4.53 and a beta of 2.32. The company has a 50 day simple moving average of $172.90 and a two-hundred day simple moving average of $195.68.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $21.30 billion during the quarter, compared to the consensus estimate of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Analysts expect that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

TSLA has been the subject of several analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Wednesday, April 24th. Truist Financial reduced their target price on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a report on Wednesday, April 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $230.00 price target on shares of Tesla in a research report on Wednesday. The Goldman Sachs Group reiterated a “neutral” rating and set a $175.00 price objective on shares of Tesla in a research report on Friday. Finally, Citigroup reaffirmed a “neutral” rating on shares of Tesla in a research report on Wednesday. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus target price of $185.90.

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.