Wealthcare Advisory Partners LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Wealthcare Advisory Partners LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,154 shares of the electric vehicle producer’s stock after buying an additional 3,100 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Tesla were worth $4,186,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of Tesla during the 4th quarter valued at $56,600,000. Strategic Family Wealth Counselors L.L.C. raised its holdings in Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after acquiring an additional 1,629 shares during the period. Harvard Management Co. Inc. bought a new stake in Tesla during the 4th quarter valued at $8,158,000. Vontobel Holding Ltd. raised its holdings in Tesla by 23.0% during the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock valued at $130,158,000 after acquiring an additional 60,342 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Tesla by 451.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 285,121 shares of the electric vehicle producer’s stock valued at $115,143,000 after acquiring an additional 233,460 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $23,300,200. This represents a 56.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The shares were 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 disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock worth $273,791,775 in the last ninety days. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TSLA. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a report on Friday, March 28th. The Goldman Sachs Group lowered their target price on shares of Tesla from $295.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, June 6th. HSBC lowered their target price on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Finally, Wells Fargo & Company decreased their price target on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and an average price target of $293.67.

Tesla Trading Up 5.7%

Shares of TSLA stock opened at $326.09 on Wednesday. The stock has a market capitalization of $1.05 trillion, a PE ratio of 159.85, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The business has a 50-day moving average of $293.86 and a 200 day moving average of $333.15. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the prior year, the company earned $0.45 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Company 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.