1900 Wealth Management LLC Acquires 1,181 Shares of Tesla, Inc. (NASDAQ:TSLA)

1900 Wealth Management LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 231.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,692 shares of the electric vehicle producer's stock after purchasing an additional 1,181 shares during the quarter. 1900 Wealth Management LLC's holdings in Tesla were worth $438,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC increased its holdings in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. increased its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. increased its holdings in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC bought a new position in shares of Tesla during the fourth quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla in the fourth quarter valued at approximately $38,000. 66.20% of the stock is owned by institutional investors.

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 value of $32,732,635.32. Following the completion of the sale, the director now directly owns 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 818,509 shares of company stock worth $273,791,775 over the last quarter. Company insiders own 20.70% of the company's stock.

Tesla Price Performance

TSLA stock opened at $325.31 on Monday. The firm has a market cap of $1.05 trillion, a price-to-earnings ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $177.00 and a 12-month high of $488.54. The company's fifty day simple moving average is $299.39 and its 200 day simple moving average is $332.88.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the firm earned $0.45 EPS. On average, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Piper Sandler reissued an "overweight" rating and issued a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Roth Mkm decreased their price objective 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. Finally, Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $293.67.

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.

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