Howard Bailey Securities LLC Acquires 180 Shares of Tesla, Inc. (NASDAQ:TSLA)

Howard Bailey Securities LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 16.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,301 shares of the electric vehicle producer’s stock after purchasing an additional 180 shares during the period. Howard Bailey Securities LLC’s holdings in Tesla were worth $337,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Wealth Group Ltd. purchased a new stake in Tesla during the 4th quarter worth about $275,000. Tallon Kerry Patrick purchased a new stake in shares of Tesla in the fourth quarter worth about $374,000. Eagle Capital Management LLC purchased a new position in Tesla during the fourth quarter valued at approximately $331,000. Brighton Jones LLC increased its holdings in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. Finally, Revolve Wealth Partners LLC lifted its stake in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 1.9%

NASDAQ:TSLA opened at $325.31 on Monday. Tesla, Inc. has a 12 month low of $177.00 and a 12 month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $299.39 and a 200-day moving average price of $332.88. The stock has a market cap of $1.05 trillion, a price-to-earnings ratio of 159.47, a P/E/G ratio of 5.86 and a beta of 2.47.

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

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The stock was 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. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 818,509 shares of company stock valued at $273,791,775 over the last ninety days. Company insiders own 20.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. Piper Sandler reaffirmed an “overweight” rating and issued a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft decreased their target price on Tesla from $420.00 to $345.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Guggenheim reiterated a “sell” rating and set a $170.00 price target on shares of Tesla in a research report on Thursday, April 24th. HSBC decreased their price objective on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research report on Thursday, March 27th. Finally, Cfra Research lowered shares of Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $293.67.

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.