Triton Wealth Management PLLC Purchases 3,536 Shares of Tesla, Inc. $TSLA

Triton Wealth Management PLLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 30.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,059 shares of the electric vehicle producer’s stock after purchasing an additional 3,536 shares during the period. Tesla accounts for approximately 2.1% of Triton Wealth Management PLLC’s portfolio, making the stock its 11th biggest holding. Triton Wealth Management PLLC’s holdings in Tesla were worth $5,748,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Simplicity Wealth LLC increased its position in Tesla by 10.0% in the 1st quarter. Simplicity Wealth LLC now owns 28,730 shares of the electric vehicle producer’s stock worth $10,680,000 after buying an additional 2,619 shares during the period. Candriam S.C.A. grew its stake in shares of Tesla by 11.6% in the first quarter. Candriam S.C.A. now owns 293,400 shares of the electric vehicle producer’s stock worth $109,071,000 after acquiring an additional 30,611 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Tesla by 3.8% during the first quarter. Sequoia Financial Advisors LLC now owns 113,896 shares of the electric vehicle producer’s stock worth $42,341,000 after acquiring an additional 4,193 shares during the period. Walled Lake Planning & Wealth Management LLC increased its position in Tesla by 2.4% during the first quarter. Walled Lake Planning & Wealth Management LLC now owns 1,224 shares of the electric vehicle producer’s stock worth $455,000 after acquiring an additional 29 shares during the period. Finally, AlpenGlobal Capital LLC bought a new stake in Tesla in the 1st quarter valued at $13,350,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Key Stories Impacting Tesla

Here are the key news stories impacting Tesla this week:

Tesla Price Performance

NASDAQ TSLA traded up $1.21 during trading hours on Friday, reaching $407.76. 33,333,565 shares of the company’s stock were exchanged, compared to its average volume of 42,504,768. Tesla, Inc. has a one year low of $297.82 and a one year high of $498.83. The stock has a market cap of $1.53 trillion, a PE ratio of 374.09, a price-to-earnings-growth ratio of 14.89 and a beta of 1.80. The company has a current ratio of 2.04, a quick ratio of 1.62 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average of $410.46 and a 200-day moving average of $409.23.

Tesla (NASDAQ:TSLAGet Free Report) last announced its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The company had revenue of $22.39 billion for the quarter, compared to analyst estimates of $22.96 billion. During the same period in the prior year, the business earned $0.27 earnings per share. Tesla’s quarterly revenue was up 15.8% on a year-over-year basis. On average, equities research analysts predict that Tesla, Inc. will post 1.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the business’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the completion of the sale, the director directly owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the transaction, the chief financial officer owned 18,106 shares in the company, valued at approximately $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 32,015 shares of company stock worth $12,383,640 over the last quarter. Corporate insiders own 19.90% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of research analyst reports. BTIG Research lowered shares of Tesla to a “neutral” rating in a research report on Friday, June 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Tesla in a research note on Tuesday, June 30th. Phillip Securities cut their price target on Tesla from $220.00 to $215.00 and set a “sell” rating for the company in a report on Wednesday, May 13th. Tigress Financial initiated coverage on Tesla in a report on Monday, April 27th. They set a “buy” rating on the stock. Finally, UBS Group boosted their price objective on Tesla from $364.00 to $442.00 and gave the company a “neutral” rating in a research report on Thursday. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average target price of $406.87.

View Our Latest Analysis on Tesla

Tesla Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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