Tesla, Inc. (NASDAQ:TSLA) is 1776 Wealth LLC's 9th Largest Position

1776 Wealth LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,180 shares of the electric vehicle producer's stock after acquiring an additional 2,482 shares during the quarter. Tesla comprises about 2.3% of 1776 Wealth LLC's investment portfolio, making the stock its 9th biggest holding. 1776 Wealth LLC's holdings in Tesla were worth $4,971,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Clifford Swan Investment Counsel LLC lifted its holdings in Tesla by 56.8% during the first quarter. Clifford Swan Investment Counsel LLC now owns 6,401 shares of the electric vehicle producer's stock valued at $1,659,000 after purchasing an additional 2,319 shares in the last quarter. HighPoint Advisor Group LLC boosted its holdings in Tesla by 6.2% in the 1st quarter. HighPoint Advisor Group LLC now owns 102,626 shares of the electric vehicle producer's stock worth $26,597,000 after buying an additional 6,016 shares during the period. GW&K Investment Management LLC boosted its holdings in Tesla by 4.9% in the 1st quarter. GW&K Investment Management LLC now owns 1,702 shares of the electric vehicle producer's stock worth $441,000 after buying an additional 80 shares during the period. 4WEALTH Advisors Inc. raised its holdings in Tesla by 5.0% during the first quarter. 4WEALTH Advisors Inc. now owns 2,993 shares of the electric vehicle producer's stock valued at $776,000 after acquiring an additional 143 shares during the period. Finally, Summit Wealth & Retirement Planning Inc. raised its holdings in Tesla by 68.2% during the first quarter. Summit Wealth & Retirement Planning Inc. now owns 4,756 shares of the electric vehicle producer's stock valued at $1,233,000 after acquiring an additional 1,928 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the 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 completion of the sale, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 835,509 shares of company stock valued at $279,420,485. Company insiders own 20.70% of the company's stock.

Tesla Trading Up 1.1%

Shares of Tesla stock traded up $3.62 on Tuesday, hitting $332.11. 76,939,359 shares of the company traded hands, compared to its average volume of 98,750,461. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.07 trillion, a PE ratio of 182.48, a PEG ratio of 12.56 and a beta of 2.39. The stock's 50 day moving average price is $326.27 and its 200-day moving average price is $316.26. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the firm posted $0.45 EPS. Equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Barclays decreased their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. JPMorgan Chase & Co. lowered their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Glj Research reiterated a "sell" rating and issued a $19.05 price target (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Raymond James Financial cut shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group cut their price objective on Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $298.97.

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.