Dechtman Wealth Management LLC Purchases New Stake in Tesla, Inc. (NASDAQ:TSLA)

Dechtman Wealth Management LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 911 shares of the electric vehicle producer’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Integris Wealth Management LLC grew its holdings in shares of Tesla by 1.0% during the 2nd quarter. Integris Wealth Management LLC now owns 4,065 shares of the electric vehicle producer’s stock worth $804,000 after purchasing an additional 42 shares in the last quarter. Sherrill & Hutchins Financial Advisory Inc raised its position in shares of Tesla by 1.4% in the 3rd quarter. Sherrill & Hutchins Financial Advisory Inc now owns 3,058 shares of the electric vehicle producer’s stock valued at $800,000 after buying an additional 43 shares in the last quarter. Echo Wealth Management LLC boosted its position in shares of Tesla by 0.7% during the 2nd quarter. Echo Wealth Management LLC now owns 6,474 shares of the electric vehicle producer’s stock worth $1,281,000 after acquiring an additional 44 shares in the last quarter. WASHINGTON TRUST Co increased its stake in Tesla by 3.2% in the second quarter. WASHINGTON TRUST Co now owns 1,433 shares of the electric vehicle producer’s stock valued at $284,000 after acquiring an additional 45 shares during the last quarter. Finally, Bellevue Asset Management LLC raised its position in Tesla by 1.6% during the second quarter. Bellevue Asset Management LLC now owns 2,868 shares of the electric vehicle producer’s stock valued at $568,000 after purchasing an additional 45 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Friday, November 1st. The shares were sold at an average price of $251.76, for a total value of $1,007,040.00. Following the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,442,856.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 297 shares of the business’s 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 transaction, the senior vice president now directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,797 shares of company stock valued at $19,211,821 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research reports. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of Tesla in a report on Thursday, October 24th. Truist Financial upped their price objective on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research report on Thursday, October 24th. UBS Group cut shares of Tesla from a “neutral” rating to a “sell” rating and boosted their target price for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Glj Research reiterated a “sell” rating and set a $24.86 price target on shares of Tesla in a report on Thursday, October 17th. Finally, Guggenheim raised their price objective on Tesla from $153.00 to $156.00 and gave the company a “sell” rating in a report on Thursday, October 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $219.45.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $31.94 during mid-day trading on Wednesday, reaching $283.38. 88,099,961 shares of the company were exchanged, compared to its average volume of 93,916,805. The stock has a market capitalization of $909.67 billion, a PE ratio of 76.99, a PEG ratio of 8.01 and a beta of 2.29. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $289.59. The company’s 50 day moving average price is $235.57 and its 200 day moving average price is $212.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period last year, the business earned $0.53 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. Sell-side analysts forecast that Tesla, Inc. will post 1.96 earnings per share for the current fiscal year.

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.