Maxwell Wealth Strategies Inc. Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Maxwell Wealth Strategies Inc. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 580.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 8,957 shares of the electric vehicle producer’s stock after purchasing an additional 7,640 shares during the quarter. Maxwell Wealth Strategies Inc.’s holdings in Tesla were worth $2,252,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Natixis Advisors LLC increased its position in shares of Tesla by 6.6% in the third quarter. Natixis Advisors LLC now owns 1,750,576 shares of the electric vehicle producer’s stock worth $458,003,000 after acquiring an additional 108,449 shares in the last quarter. Mizuho Markets Americas LLC purchased a new stake in Tesla during the 3rd quarter worth $52,326,000. TSA Wealth Managment LLC increased its holdings in Tesla by 23.4% in the 3rd quarter. TSA Wealth Managment LLC now owns 1,822 shares of the electric vehicle producer’s stock valued at $477,000 after purchasing an additional 345 shares in the last quarter. Meridian Investment Counsel Inc. purchased a new position in Tesla in the third quarter valued at about $230,000. Finally, Birchcreek Wealth Management LLC acquired a new position in shares of Tesla during the third quarter worth about $277,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insider Activity at Tesla

In related 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 transaction, the senior vice president now owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $346.02, for a total transaction of $34,602,000.00. Following the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,868,508. This represents a 94.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 188,797 shares of company stock worth $57,616,781 over the last quarter. 20.70% of the stock is currently owned by company insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $320.72 on Friday. The firm’s 50 day moving average is $252.30 and its two-hundred day moving average is $220.46. The firm has a market capitalization of $1.03 trillion, a P/E ratio of 87.87, a PEG ratio of 10.73 and a beta of 2.29. The company has a current ratio of 1.84, a quick ratio of 1.37 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 $358.64.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $25.47 billion. During the same quarter in the previous year, the business earned $0.53 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wolfe Research initiated coverage on Tesla in a report on Thursday, September 5th. They set a “peer perform” rating on the stock. Piper Sandler lifted their price objective on shares of Tesla from $310.00 to $315.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Morgan Stanley restated an “overweight” rating and issued a $310.00 target price on shares of Tesla in a research note on Thursday, October 3rd. HSBC reaffirmed a “reduce” rating and set a $124.00 price target on shares of Tesla in a research note on Friday, October 11th. Finally, Royal Bank of Canada upped their price objective on shares of Tesla from $249.00 to $313.00 and gave the company an “outperform” rating in a research report on Friday. Nine analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $230.18.

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.