Beacon Financial Advisory LLC Purchases 143 Shares of Tesla, Inc. (NASDAQ:TSLA)

Beacon Financial Advisory LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 1.9% during the first quarter, Holdings Channel.com reports. The fund owned 7,502 shares of the electric vehicle producer’s stock after buying an additional 143 shares during the period. Beacon Financial Advisory LLC’s holdings in Tesla were worth $1,944,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cherry Tree Wealth Management LLC raised its stake in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank grew its holdings in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 42 shares in the last quarter. Newton One Investments LLC lifted its holdings in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after buying an additional 75 shares in the last quarter. True Wealth Design LLC boosted its position in shares of Tesla by 79.5% during the fourth 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 during the last quarter. Finally, Horrell Capital Management Inc. increased its holdings 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 acquiring an additional 34 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction that occurred on Tuesday, May 27th. The shares were 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 of the company’s stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the chief financial officer now directly owns 1,950 shares in the company, valued at approximately $682,500. The trade was a 33.90% decrease in their ownership of the stock. 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. 20.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TSLA has been the subject of a number of research analyst reports. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a “buy” rating in a research report on Thursday, April 24th. Cantor Fitzgerald cut their price target on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 23rd. Baird R W downgraded Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Finally, Roth Mkm reduced their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $298.37.

Tesla Stock Down 0.7%

Shares of NASDAQ TSLA opened at $323.63 on Friday. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The firm has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 177.82, a PEG ratio of 12.18 and a beta of 2.47. The stock has a 50 day moving average price of $314.93 and a 200 day moving average price of $330.48. 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 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). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the firm earned $0.45 earnings per share. Sell-side analysts expect 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.