Purus Wealth Management LLC Has $1.29 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Purus Wealth Management LLC reduced its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,515 shares of the electric vehicle producer’s stock after selling 570 shares during the quarter. Purus Wealth Management LLC’s holdings in Tesla were worth $1,289,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TSLA. DDFG Inc raised its stake in Tesla by 7.1% during the fourth quarter. DDFG Inc now owns 1,065 shares of the electric vehicle producer’s stock worth $265,000 after acquiring an additional 71 shares in the last quarter. Vantage Financial Partners LLC raised its stake in Tesla by 6.4% during the fourth quarter. Vantage Financial Partners LLC now owns 5,763 shares of the electric vehicle producer’s stock worth $1,432,000 after acquiring an additional 346 shares in the last quarter. Gilbert & Cook Inc. increased its stake in shares of Tesla by 8.7% in the fourth quarter. Gilbert & Cook Inc. now owns 13,511 shares of the electric vehicle producer’s stock valued at $3,357,000 after buying an additional 1,086 shares in the last quarter. 9258 Wealth Management LLC raised its holdings in shares of Tesla by 1.1% in the fourth quarter. 9258 Wealth Management LLC now owns 6,165 shares of the electric vehicle producer’s stock valued at $1,532,000 after buying an additional 69 shares during the last quarter. Finally, Rollins Financial lifted its position in Tesla by 10.2% during the 4th quarter. Rollins Financial now owns 120,416 shares of the electric vehicle producer’s stock worth $29,921,000 after buying an additional 11,191 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Robyn M. Denholm sold 66,364 shares of the business’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 sale, the director now directly owns 85,000 shares in the company, valued at $18,696,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $221.77, for a total transaction of $65,865.69. Following the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the director now owns 85,000 shares in the company, valued at approximately $18,696,600. The disclosure for this sale can be found here. Corporate insiders own 25.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on TSLA shares. Wolfe Research started coverage on shares of Tesla in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. TD Cowen boosted their price objective on shares of Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a research report on Wednesday, July 3rd. Guggenheim upped their price objective on Tesla from $134.00 to $153.00 and gave the stock a “sell” rating in a report on Friday, September 13th. Wedbush reissued an “outperform” rating and issued a $300.00 target price on shares of Tesla in a research note on Wednesday, July 24th. Finally, UBS Group cut Tesla from a “neutral” rating to a “sell” rating and lifted their target price for the company from $147.00 to $197.00 in a research note on Friday, July 12th. Nine analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $209.60.

Tesla Stock Up 0.5 %

NASDAQ:TSLA opened at $227.87 on Wednesday. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $273.93. The company has a current ratio of 1.91, a quick ratio of 1.40 and a debt-to-equity ratio of 0.08. The stock has a market cap of $726.72 billion, a price-to-earnings ratio of 58.13, a PEG ratio of 6.08 and a beta of 2.29. The stock has a 50-day moving average price of $222.16 and a two-hundred day moving average price of $194.93.

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

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.