TrueWealth Advisors LLC Has $1.03 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

TrueWealth Advisors LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,978 shares of the electric vehicle producer’s stock after purchasing an additional 75 shares during the quarter. TrueWealth Advisors LLC’s holdings in Tesla were worth $1,031,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Norges Bank bought a new position in shares of Tesla during the 4th quarter worth about $14,420,248,000. FMR LLC lifted its stake in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC boosted its holdings in Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after buying an additional 5,719,466 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 2,672 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total value of $718,046.56. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $7,242,273.50. The trade was a 9.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total value of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 866,393 shares of company stock valued at $284,570,654. Corporate insiders own 20.70% of the company’s stock.

Tesla Stock Up 0.5%

Shares of Tesla stock opened at $344.27 on Wednesday. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The business has a fifty day simple moving average of $289.75 and a 200 day simple moving average of $334.35. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.11 trillion, a PE ratio of 168.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS 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 the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the company earned $0.45 earnings per share. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler set a $400.00 price target on Tesla in a research report on Tuesday, May 6th. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and boosted their target price for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Royal Bank of Canada dropped their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 23rd. Finally, BNP Paribas set a $137.00 target price on Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $293.97.

Tesla 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.