Libra Wealth LLC Acquires 193 Shares of Tesla, Inc. (NASDAQ:TSLA)

Libra Wealth LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 3.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,146 shares of the electric vehicle producer’s stock after acquiring an additional 193 shares during the quarter. Tesla makes up about 0.5% of Libra Wealth LLC’s portfolio, making the stock its 23rd biggest position. Libra Wealth LLC’s holdings in Tesla were worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Beaton Management Co. Inc. boosted its position in Tesla by 5.2% during the first quarter. Beaton Management Co. Inc. now owns 4,081 shares of the electric vehicle producer’s stock valued at $1,058,000 after purchasing an additional 200 shares in the last quarter. G&S Capital LLC raised its holdings in Tesla by 20.1% in the first quarter. G&S Capital LLC now owns 2,986 shares of the electric vehicle producer’s stock worth $774,000 after purchasing an additional 500 shares in the last quarter. Essex LLC lifted its position in shares of Tesla by 101.9% during the first quarter. Essex LLC now owns 2,207 shares of the electric vehicle producer’s stock valued at $572,000 after buying an additional 1,114 shares during the last quarter. RedJay Asset Management Inc. bought a new stake in shares of Tesla in the 1st quarter valued at about $2,073,000. Finally, Red Door Wealth Management LLC boosted its holdings in shares of Tesla by 22.7% in the 1st quarter. Red Door Wealth Management LLC now owns 4,537 shares of the electric vehicle producer’s stock valued at $1,176,000 after buying an additional 840 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Guggenheim reaffirmed a “sell” rating and set a $175.00 price target on shares of Tesla in a research report on Monday, June 23rd. Canaccord Genuity Group reissued a “buy” rating and issued a $303.00 price objective on shares of Tesla in a research report on Monday. Baird R W downgraded Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Finally, Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla presently has an average rating of “Hold” and an average price target of $298.37.

Insider Activity

In related news, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president directly owned 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 legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,564 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at approximately $1,692,546.04. This represents a 30.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock valued at $278,648,925 in the last three months. Company insiders own 20.70% of the company’s stock.

Tesla Stock Down 1.8%

Shares of NASDAQ TSLA opened at $317.66 on Tuesday. The firm has a market cap of $1.02 trillion, a price-to-earnings ratio of 174.54, a price-to-earnings-growth ratio of 12.20 and a beta of 2.47. The company’s 50-day simple moving average is $316.73 and its 200-day simple moving average is $328.38. 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, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data 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 firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

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.