Segment Wealth Management LLC Buys 7,149 Shares of Tesla, Inc. (NASDAQ:TSLA)

Segment Wealth Management LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 500.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,577 shares of the electric vehicle producer’s stock after acquiring an additional 7,149 shares during the period. Segment Wealth Management LLC’s holdings in Tesla were worth $2,223,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. increased its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. raised its stake in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC acquired a new stake in Tesla during the 4th quarter valued at $37,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla in the 4th quarter valued at $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 over the last three months. Company insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on TSLA. Raymond James Financial cut Tesla to an “outperform” rating in a report on Tuesday, April 22nd. Robert W. Baird reiterated a “neutral” rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Piper Sandler restated an “overweight” rating and issued a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Glj Research reaffirmed a “sell” rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Finally, Cfra Research cut shares of Tesla from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 22nd. Ten equities 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $293.67.

Tesla Trading Up 1.8%

Shares of TSLA stock opened at $322.05 on Friday. Tesla, Inc. has a 12-month low of $179.66 and a 12-month high of $488.54. The company has a market capitalization of $1.04 trillion, a PE ratio of 176.95, a price-to-earnings-growth ratio of 12.04 and a beta of 2.47. The firm has a 50 day moving average price of $304.81 and a two-hundred day moving average price of $332.35. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS 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 period last year, the firm earned $0.45 EPS. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

About Tesla

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.