WorthPointe LLC Acquires 64 Shares of Tesla, Inc. (NASDAQ:TSLA)

WorthPointe LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 9.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 773 shares of the electric vehicle producer’s stock after buying an additional 64 shares during the quarter. WorthPointe LLC’s holdings in Tesla were worth $200,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. BCM Advisors LLC lifted its stake in shares of Tesla by 74.0% in the 1st quarter. BCM Advisors LLC now owns 1,039 shares of the electric vehicle producer’s stock valued at $298,000 after purchasing an additional 442 shares during the period. American Financial & Tax Strategies Inc. lifted its stake in shares of Tesla by 3.9% in the 1st quarter. American Financial & Tax Strategies Inc. now owns 1,421 shares of the electric vehicle producer’s stock valued at $368,000 after purchasing an additional 53 shares during the period. BlueChip Wealth Advisors LLC purchased a new position in shares of Tesla in the 1st quarter valued at approximately $247,000. KLP Kapitalforvaltning AS lifted its stake in shares of Tesla by 2.5% in the 1st quarter. KLP Kapitalforvaltning AS now owns 993,210 shares of the electric vehicle producer’s stock valued at $257,400,000 after purchasing an additional 24,100 shares during the period. Finally, Next Level Wealth Planning LLC lifted its stake in shares of Tesla by 4.3% in the 1st quarter. Next Level Wealth Planning LLC now owns 1,128 shares of the electric vehicle producer’s stock valued at $292,000 after purchasing an additional 46 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Trading Up 1.1%

TSLA opened at $332.11 on Wednesday. The firm has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 182.48, a price-to-earnings-growth ratio of 12.52 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The company’s 50 day simple moving average is $326.27 and its two-hundred day simple moving average is $316.26. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $0.45 EPS. Analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction on 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 transaction, the director owned 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock worth $279,420,485 in the last ninety days. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. HSBC reissued a “reduce” rating and issued a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research note on Friday, March 28th. UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. Bank of America boosted their price target on Tesla from $305.00 to $341.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Robert W. Baird restated a “neutral” rating and issued a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $298.97.

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.