Montz Harcus Wealth Management LLC Purchases 511 Shares of Tesla, Inc. (NASDAQ:TSLA)

Montz Harcus Wealth Management LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA) by 30.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,214 shares of the electric vehicle producer’s stock after purchasing an additional 511 shares during the quarter. Montz Harcus Wealth Management LLC’s holdings in Tesla were worth $574,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in shares of Tesla in the fourth quarter valued at about $56,600,000. Focus Financial Network Inc. grew its stake in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after acquiring an additional 670 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. grew its stake in shares of Tesla by 133.7% in the fourth 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 in the last quarter. Harvard Management Co. Inc. acquired a new position in shares of Tesla in the fourth quarter valued at about $8,158,000. Finally, Blackston Financial Advisory Group LLC grew its stake in shares of Tesla by 40.4% in the first quarter. Blackston Financial Advisory Group LLC now owns 3,040 shares of the electric vehicle producer’s stock valued at $788,000 after acquiring an additional 874 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 1.8%

Shares of NASDAQ TSLA opened at $322.05 on Thursday. The company has a 50 day simple moving average of $303.42 and a 200 day simple moving average of $332.59. The firm has a market cap 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. Tesla, Inc. has a 1 year low of $179.66 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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). The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the business earned $0.45 EPS. On average, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TSLA shares. The Goldman Sachs Group decreased their price target on shares of Tesla from $295.00 to $285.00 and set a “neutral” rating on the stock in a research note on Friday, June 6th. Canaccord Genuity Group decreased their price target on shares of Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley restated an “overweight” rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Raymond James Financial downgraded shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently 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.