Centennial Wealth Advisory LLC Acquires 593 Shares of Tesla, Inc. (NASDAQ:TSLA)

Centennial Wealth Advisory LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 44.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,941 shares of the electric vehicle producer’s stock after purchasing an additional 593 shares during the quarter. Centennial Wealth Advisory LLC’s holdings in Tesla were worth $503,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Newton One Investments LLC boosted its position in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares during the period. True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% during the 4th 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. grew its stake in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares during the last quarter. Pflug Koory LLC raised its holdings in Tesla by 370.4% in the 1st quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Finally, GS Investments Inc. lifted its position in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’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 transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 833,509 shares of company stock worth $278,648,925. Insiders own 20.70% of the company’s stock.

Tesla Trading Up 1.8%

Shares of Tesla stock opened at $322.05 on Thursday. The firm has a market capitalization of $1.04 trillion, a PE ratio of 176.95, a price-to-earnings-growth ratio of 11.88 and a beta of 2.47. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $303.42 and its 200 day moving average is $332.59. Tesla, Inc. has a 1 year low of $179.66 and a 1 year high of $488.54.

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 analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the prior year, the business earned $0.45 EPS. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Cantor Fitzgerald decreased their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Barclays dropped their target price on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Guggenheim restated a “sell” rating on shares of Tesla in a research note on Friday, June 13th. Finally, Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.