Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Increased by Beacon Financial Group

Beacon Financial Group grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 28.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,173 shares of the electric vehicle producer’s stock after purchasing an additional 480 shares during the quarter. Beacon Financial Group’s holdings in Tesla were worth $563,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. True Wealth Design LLC boosted its position in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. boosted its position in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares during the period. GS Investments Inc. boosted its position in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares during the period. Navigoe LLC acquired a new stake in shares of Tesla in the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Tesla in the fourth quarter worth $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TSLA. Wedbush reaffirmed an “outperform” rating and issued a $500.00 target price (up previously from $350.00) on shares of Tesla in a research report on Friday, May 23rd. Wells Fargo & Company decreased their target price on Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research report on Friday, March 14th. Glj Research reissued a “sell” rating and set a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $293.97.

Tesla Trading Down 14.3%

Tesla stock opened at $284.68 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business’s 50-day simple moving average is $291.63 and its 200-day simple moving average is $333.97. The firm has a market capitalization of $916.94 billion, a PE ratio of 139.55, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 870,721 shares of company stock worth $286,248,728 over the last three months. Company insiders own 20.70% of the company’s stock.

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.