Global Wealth Strategies & Associates Purchases 277 Shares of Tesla, Inc. (NASDAQ:TSLA)

Global Wealth Strategies & Associates grew its position in Tesla, Inc. (NASDAQ:TSLA) by 24.5% in the first quarter, HoldingsChannel.com reports. The fund owned 1,407 shares of the electric vehicle producer’s stock after buying an additional 277 shares during the quarter. Global Wealth Strategies & Associates’ holdings in Tesla were worth $365,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. True Wealth Design LLC raised its position in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. raised its position in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. raised its position in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC bought a new position in Tesla in the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla in the 4th quarter worth approximately $38,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 54,776 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,390 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $299.61, for a total transaction of $33,673,167.90. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at approximately $25,466,850. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 415,623 shares of company stock valued at $116,650,831. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $356.90 on Thursday. The firm has a market cap of $1.15 trillion, a PE ratio of 174.95, a PEG ratio of 5.86 and a beta of 2.43. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The company has a fifty day moving average price of $284.09 and a 200 day moving average price of $333.75.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the company posted $0.45 earnings per share. Research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Mizuho boosted their price objective on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. HSBC dropped their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a research report on Thursday, March 27th. Barclays dropped their price objective on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Glj Research reaffirmed a “sell” rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. Finally, Wedbush reaffirmed an “outperform” rating and set a $500.00 target price (up previously from $350.00) on shares of Tesla in a report on Friday, May 23rd. Ten research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $293.97.

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.