Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by 49 Wealth Management LLC

49 Wealth Management LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 8.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,138 shares of the electric vehicle producer’s stock after buying an additional 84 shares during the period. 49 Wealth Management LLC’s holdings in Tesla were worth $295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC increased its holdings in Tesla by 79.5% in 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 in the last quarter. 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 purchasing an additional 34 shares in the last quarter. GS Investments Inc. increased its holdings in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC acquired a new stake in Tesla in the 4th quarter valued at $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla in the 4th quarter valued at $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Up 1.3%

NASDAQ TSLA opened at $297.81 on Wednesday. Tesla, Inc. has a twelve month low of $182.00 and a twelve month 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. The stock has a market cap of $959.23 billion, a price-to-earnings ratio of 163.63, a PEG ratio of 8.57 and a beta of 2.39. The firm’s 50 day moving average price is $321.21 and its two-hundred day moving average price is $323.29.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director directly owned 85,000 shares of the company’s stock, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 829,509 shares of company stock worth $277,648,925. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TSLA has been the subject of several recent research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $303.00 price target on shares of Tesla in a report on Monday, June 30th. Piper Sandler restated an “overweight” rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Glj Research restated a “sell” rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Finally, Wedbush restated an “outperform” rating and set a $500.00 target price on shares of Tesla in a research note on Tuesday. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $301.13.

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.