Abich Financial Wealth Management LLC Has $80,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Abich Financial Wealth Management LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 136.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 305 shares of the electric vehicle producer’s stock after acquiring an additional 176 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Tesla were worth $80,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC grew its position in shares of Tesla by 35,611.2% during the 3rd quarter. International Assets Investment Management LLC now owns 11,054,391 shares of the electric vehicle producer’s stock worth $2,892,160,000 after buying an additional 11,023,436 shares during the period. Clean Energy Transition LLP lifted its holdings in shares of Tesla by 347.7% in the 2nd quarter. Clean Energy Transition LLP now owns 4,818,600 shares of the electric vehicle producer’s stock worth $953,505,000 after purchasing an additional 6,764,300 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in Tesla by 21,816.0% in the 2nd quarter. Strategic Financial Concepts LLC now owns 5,902,416 shares of the electric vehicle producer’s stock valued at $1,167,970,000 after acquiring an additional 5,875,484 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 233,602,120 shares of the electric vehicle producer’s stock worth $41,064,917,000 after purchasing an additional 3,795,748 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Tesla by 236.8% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,104,010 shares of the electric vehicle producer’s stock valued at $416,341,000 after buying an additional 1,479,378 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $2.32 during midday trading on Tuesday, hitting $260.19. The stock had a trading volume of 20,458,563 shares, compared to its average volume of 94,391,180. The company has a quick ratio of 1.37, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $835.23 billion, a PE ratio of 71.92, a P/E/G ratio of 7.59 and a beta of 2.29. The stock has a 50 day simple moving average of $231.33 and a 200-day simple moving average of $208.54. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $273.54.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.14. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm had revenue of $25.18 billion during the quarter, compared to analyst estimates of $25.47 billion. During the same period last year, the business posted $0.53 earnings per share. Tesla’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Tesla, Inc. will post 1.75 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TSLA shares. UBS Group downgraded shares of Tesla from a “neutral” rating to a “sell” rating and lifted their target price for the stock from $147.00 to $197.00 in a research note on Friday, July 12th. Cantor Fitzgerald restated a “neutral” rating and set a $245.00 price target on shares of Tesla in a research report on Wednesday, October 23rd. TD Cowen raised their target price on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. lifted their price objective on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Tesla from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Eight analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $219.45.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at approximately $26,258,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction on Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the completion of the transaction, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,297 shares of company stock valued at $3,065,866. Insiders own 20.70% of the company’s stock.

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.