BCGM Wealth Management LLC Has $683,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

BCGM Wealth Management LLC grew its position in Tesla, Inc. (NASDAQ:TSLA) by 8.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,609 shares of the electric vehicle producer’s stock after purchasing an additional 196 shares during the period. BCGM Wealth Management LLC’s holdings in Tesla were worth $683,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. grew its position in shares of Tesla by 0.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,399 shares of the electric vehicle producer’s stock worth $6,399,000 after buying an additional 331 shares during the period. M&G Plc bought a new stake in shares of Tesla during the 1st quarter valued at $2,509,000. Catalytic Wealth RIA LLC acquired a new position in shares of Tesla in the 1st quarter valued at $732,000. Covestor Ltd boosted its position in shares of Tesla by 28.4% in the 1st quarter. Covestor Ltd now owns 1,606 shares of the electric vehicle producer’s stock worth $282,000 after purchasing an additional 355 shares during the last quarter. Finally, Resurgent Financial Advisors LLC grew its stake in shares of Tesla by 60.1% during the first quarter. Resurgent Financial Advisors LLC now owns 5,267 shares of the electric vehicle producer’s stock worth $926,000 after purchasing an additional 1,978 shares during the period. Institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other news, 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 sale, the senior vice president now owns 67,491 shares in the company, valued at approximately $14,967,479.07. The trade was a 0.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $26,258,000. This trade represents a 3.67 % 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 ninety days. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TSLA shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $295.00 target price on shares of Tesla in a report on Tuesday, September 10th. William Blair assumed coverage on shares of Tesla in a report on Thursday, August 29th. They set an “outperform” rating for the company. Stifel Nicolaus increased their target price on shares of Tesla from $265.00 to $287.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Morgan Stanley reissued an “overweight” rating and issued a $310.00 price target on shares of Tesla in a report on Thursday, October 3rd. Finally, Piper Sandler raised their price objective on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Nine investment 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. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $230.18.

Tesla Trading Up 3.1 %

NASDAQ:TSLA opened at $320.72 on Friday. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $358.64. The company has a current ratio of 1.84, a quick ratio of 1.37 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $252.30 and a 200-day moving average price of $220.72. The stock has a market cap of $1.03 trillion, a price-to-earnings ratio of 87.87, a P/E/G ratio of 10.42 and a beta of 2.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 business had revenue of $25.18 billion for the quarter, compared to analysts’ expectations of $25.47 billion. During the same period in the previous year, the firm posted $0.53 EPS. The business’s revenue was up 7.8% on a year-over-year basis. Equities analysts predict that Tesla, Inc. will post 1.99 EPS 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.