Dechtman Wealth Management LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Dechtman Wealth Management LLC purchased a new position in Tesla, Inc. (NASDAQ:TSLA) during the third quarter, HoldingsChannel reports. The firm purchased 911 shares of the electric vehicle producer’s stock, valued at approximately $238,000.

Other large investors also recently modified their holdings of the company. Bank & Trust Co bought a new position in Tesla in the 2nd quarter worth $25,000. Clean Yield Group raised its stake in shares of Tesla by 60.0% in the third quarter. Clean Yield Group now owns 128 shares of the electric vehicle producer’s stock worth $33,000 after buying an additional 48 shares during the period. Abich Financial Wealth Management LLC grew its stake in shares of Tesla by 168.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 129 shares of the electric vehicle producer’s stock valued at $26,000 after acquiring an additional 81 shares during the period. Valley Wealth Managers Inc. purchased a new stake in Tesla in the 2nd quarter worth approximately $26,000. Finally, M&R Capital Management Inc. lifted its holdings in Tesla by 263.2% during the third quarter. M&R Capital Management Inc. now owns 138 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA traded up $31.94 during mid-day trading on Wednesday, reaching $283.38. The company’s stock had a trading volume of 88,099,961 shares, compared to its average volume of 93,916,805. The stock has a market capitalization of $909.67 billion, a P/E ratio of 76.99, a P/E/G ratio of 8.01 and a beta of 2.29. Tesla, Inc. has a 1-year low of $138.80 and a 1-year high of $289.59. The stock has a 50-day moving average of $235.57 and a two-hundred day moving average of $212.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

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

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’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 completion of the sale, the senior vice president now directly owns 67,491 shares of the company’s stock, valued at approximately $14,967,479.07. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Xiaotong Zhu sold 297 shares of the company’s stock in a transaction that occurred 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 directly owns 67,491 shares in the company, valued at approximately $14,967,479.07. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimbal Musk sold 60,500 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $250.23, for a total transaction of $15,138,915.00. Following the completion of the sale, the director now directly owns 1,563,220 shares in the company, valued at approximately $391,164,540.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,797 shares of company stock valued at $19,211,821. Insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TSLA. JPMorgan Chase & Co. upped their target price on shares of Tesla from $130.00 to $135.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Morgan Stanley restated an “overweight” rating and issued a $310.00 price target on shares of Tesla in a research note on Thursday, October 3rd. Roth Mkm restated a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Friday, October 11th. Truist Financial boosted their price target on shares of Tesla from $236.00 to $238.00 and gave the stock a “hold” rating in a research note on Thursday, October 24th. Finally, Mizuho lifted their target price on Tesla from $180.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 12th. Eight research analysts have rated the stock with a sell rating, seventeen have given 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.

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.