Capital Wealth Planning LLC Makes New $469,000 Investment in Tesla, Inc. (NASDAQ:TSLA)

Capital Wealth Planning LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,368 shares of the electric vehicle producer’s stock, valued at approximately $469,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Angeles Investment Advisors LLC grew its position in Tesla by 105.8% during the 2nd quarter. Angeles Investment Advisors LLC now owns 2,968 shares of the electric vehicle producer’s stock worth $587,000 after purchasing an additional 1,526 shares during the last quarter. Greenwich Wealth Management LLC increased its holdings in shares of Tesla by 5.6% in the second quarter. Greenwich Wealth Management LLC now owns 2,720 shares of the electric vehicle producer’s stock valued at $538,000 after purchasing an additional 145 shares during the period. Fairfield Financial Advisors LTD acquired a new position in Tesla in the 2nd quarter worth approximately $220,000. Brown Brothers Harriman & Co. raised its holdings in shares of Tesla by 36.6% during the second quarter. Brown Brothers Harriman & Co. now owns 10,921 shares of the electric vehicle producer’s stock worth $2,161,000 after purchasing an additional 2,926 shares during the last quarter. Finally, Redwood Wealth Management Group LLC boosted its holdings in Tesla by 49.1% in the second quarter. Redwood Wealth Management Group LLC now owns 3,958 shares of the electric vehicle producer’s stock valued at $783,000 after purchasing an additional 1,304 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on TSLA. Cantor Fitzgerald reiterated a “neutral” rating and set a $245.00 price objective on shares of Tesla in a research note on Monday, September 9th. William Blair initiated coverage on Tesla in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Citigroup cut their target price on shares of Tesla from $274.00 to $258.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. The Goldman Sachs Group lowered their price target on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. Finally, Oppenheimer restated a “market perform” rating on shares of Tesla in a research note on Tuesday, July 9th. Nine analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $209.60.

Tesla Trading Up 0.2 %

NASDAQ TSLA opened at $230.29 on Monday. Tesla, Inc. has a one year low of $138.80 and a one year high of $278.98. The firm has a 50 day simple moving average of $223.37 and a 200-day simple moving average of $194.57. The firm has a market cap of $734.44 billion, a price-to-earnings ratio of 58.75, a PEG ratio of 6.08 and a beta of 2.29. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.40 and a current ratio of 1.91.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.10). The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now directly owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 66,364 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $219.96, for a total value of $14,597,425.44. Following the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $18,696,600. The disclosure for this sale can be found here. Insiders own 25.10% of the company’s stock.

Tesla Company 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.