Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Boosted by Independent Solutions Wealth Management LLC

Independent Solutions Wealth Management LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,099 shares of the electric vehicle producer’s stock after purchasing an additional 120 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Tesla were worth $544,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC boosted its stake in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 44 shares in the last quarter. First PREMIER Bank boosted its stake in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC boosted its stake in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 75 shares in the last quarter. True Wealth Design LLC boosted its stake 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 acquiring an additional 31 shares in the last quarter. Finally, Horrell Capital Management Inc. lifted its holdings in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares of the company’s stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gebbia bought 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The shares were purchased at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the transaction, the director now owns 4,111 shares of the company’s stock, valued at $1,053,690.41. This represents a 3,603.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of research analyst reports. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a “buy” rating in a report on Thursday, April 24th. Roth Mkm reduced their target price on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. HSBC reduced their target price on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday, March 27th. Guggenheim restated a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Monday. Finally, Cantor Fitzgerald reduced their target price on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $294.58.

Tesla Trading Down 3.8%

Shares of NASDAQ:TSLA opened at $327.55 on Thursday. The company has a market cap of $1.06 trillion, a P/E ratio of 179.97, a P/E/G ratio of 12.73 and a beta of 2.47. The stock’s 50-day moving average is $311.59 and its 200-day moving average is $331.45. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business 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 in the prior year, the business posted $0.45 earnings per share. Equities research analysts predict 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.