Angeles Wealth Management LLC Has $2.30 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Angeles Wealth Management LLC raised its position in Tesla, Inc. (NASDAQ:TSLA) by 20.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,794 shares of the electric vehicle producer’s stock after acquiring an additional 1,506 shares during the period. Angeles Wealth Management LLC’s holdings in Tesla were worth $2,301,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Prosperitas Financial LLC raised its holdings in shares of Tesla by 12.9% in the 3rd quarter. Prosperitas Financial LLC now owns 2,782 shares of the electric vehicle producer’s stock worth $728,000 after buying an additional 318 shares in the last quarter. GFS Advisors LLC raised its holdings in shares of Tesla by 74,398.6% in the 3rd quarter. GFS Advisors LLC now owns 52,894 shares of the electric vehicle producer’s stock worth $13,839,000 after buying an additional 52,823 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Tesla in the 3rd quarter worth approximately $403,000. Janney Montgomery Scott LLC raised its holdings in shares of Tesla by 4.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 321,671 shares of the electric vehicle producer’s stock worth $84,159,000 after buying an additional 13,151 shares in the last quarter. Finally, Prossimo Advisors LLC raised its holdings in shares of Tesla by 29.0% in the 3rd quarter. Prossimo Advisors LLC now owns 3,898 shares of the electric vehicle producer’s stock worth $1,020,000 after buying an additional 876 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada increased their target price on Tesla from $236.00 to $249.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Piper Sandler increased their price target on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Citigroup decreased their price target on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 24th. Finally, Argus restated a “buy” rating and set a $286.00 price target on shares of Tesla in a research report on Friday, July 26th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $219.45.

Tesla Trading Down 0.3 %

Tesla stock traded down $0.87 during mid-day trading on Friday, hitting $248.98. 57,544,757 shares of the company’s stock were exchanged, compared to its average volume of 82,442,504. The firm has a market capitalization of $799.24 billion, a P/E ratio of 68.21, a PEG ratio of 8.24 and a beta of 2.29. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $273.54. 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’s 50 day simple moving average is $234.14 and its 200-day simple moving average is $210.76.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Wednesday, October 23rd. The electric vehicle producer reported $0.72 EPS for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion for the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a return on equity of 10.24% and a net margin of 13.07%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 1.96 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 297 shares of Tesla stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 105,032 shares in the company, valued at $26,258,000. 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. Also, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at $14,967,479.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,297 shares of company stock valued at $3,065,866 in the last 90 days. 20.70% of the stock is currently owned by company insiders.

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.