Brown Wealth Management LLC Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Brown Wealth Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 62.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,199 shares of the electric vehicle producer’s stock after acquiring an additional 460 shares during the period. Brown Wealth Management LLC’s holdings in Tesla were worth $311,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TSLA. True Wealth Design LLC grew its stake in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 31 shares during the last quarter. Navigoe LLC bought a new stake in Tesla in the 4th quarter worth approximately $37,000. Cherry Tree Wealth Management LLC grew its position in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank grew its position 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 valued at $25,000 after acquiring an additional 42 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new stake in shares of Tesla during the 4th quarter valued at $39,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TSLA. Cantor Fitzgerald lowered their target price on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Roth Mkm dropped their target price on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price target on shares of Tesla in a research report on Wednesday. UBS Group set a $290.00 target price on shares of Tesla in a research report on Monday, June 30th. Finally, China Renaissance reiterated a “hold” rating and issued a $349.00 price objective on shares of Tesla in a research note on Friday. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $302.75.

Tesla Price Performance

Shares of TSLA stock opened at $316.06 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.54. The firm’s 50-day moving average is $324.70 and its two-hundred day moving average is $314.65. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a market capitalization of $1.02 trillion, a PE ratio of 182.69, a price-to-earnings-growth ratio of 11.59 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same period last year, the firm earned $0.52 earnings per share. Tesla’s revenue for the quarter was down 11.8% on a year-over-year basis. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the transaction, the chief financial officer owned 5,924 shares of the company’s stock, valued at $1,777,200. This trade represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock valued at $279,420,485 in the last ninety days. Insiders own 20.70% of the company’s stock.

About Tesla

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.