Broadway Wealth Solutions Inc. Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Broadway Wealth Solutions Inc. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,354 shares of the electric vehicle producer’s stock after purchasing an additional 54 shares during the period. Tesla accounts for 0.4% of Broadway Wealth Solutions Inc.’s investment portfolio, making the stock its 19th largest holding. Broadway Wealth Solutions Inc.’s holdings in Tesla were worth $610,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TSLA. Vista Finance LLC grew its position in Tesla by 0.7% in the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock worth $1,417,000 after purchasing an additional 25 shares during the last quarter. Jmac Enterprises LLC boosted its holdings in shares of Tesla by 0.7% in the fourth quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock valued at $1,569,000 after acquiring an additional 26 shares in the last quarter. TFB Advisors LLC boosted its holdings in shares of Tesla by 0.5% in the fourth quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock valued at $2,105,000 after acquiring an additional 27 shares in the last quarter. Vista Capital Partners Inc. boosted its holdings in shares of Tesla by 1.4% in the fourth quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock valued at $795,000 after acquiring an additional 27 shares in the last quarter. Finally, Blackston Financial Advisory Group LLC boosted its holdings in shares of Tesla by 1.3% in the fourth quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock valued at $875,000 after acquiring an additional 27 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 1,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the chief financial officer now owns 1,950 shares in the company, valued at approximately $682,500. This trade represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 870,721 shares of company stock worth $286,248,728 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TSLA. Wells Fargo & Company decreased their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a report on Friday, March 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. Argus set a $410.00 price objective on shares of Tesla in a report on Thursday, April 24th. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Finally, Cfra Research cut shares of Tesla from a “moderate buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of “Hold” and a consensus price target of $294.27.

Tesla Stock Up 3.7%

TSLA stock opened at $295.14 on Friday. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. 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 company has a market cap of $950.63 billion, a price-to-earnings ratio of 144.68, a PEG ratio of 5.86 and a beta of 2.47. The company has a 50 day moving average of $292.17 and a two-hundred day moving average of $333.56.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (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 company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the company earned $0.45 EPS. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.