Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by ACT Wealth Management LLC

ACT Wealth Management LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.8% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,369 shares of the electric vehicle producer's stock after buying an additional 1,067 shares during the quarter. Tesla accounts for about 0.6% of ACT Wealth Management LLC's investment portfolio, making the stock its 17th biggest position. ACT Wealth Management LLC's holdings in Tesla were worth $1,391,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wealth Group Ltd. purchased a new stake in Tesla during the fourth quarter worth $275,000. Comprehensive Financial Planning Inc. PA purchased a new stake in Tesla during the fourth quarter worth $1,361,000. Tallon Kerry Patrick purchased a new stake in Tesla during the fourth quarter worth $374,000. Eagle Capital Management LLC purchased a new stake in Tesla during the fourth quarter worth $331,000. Finally, Brighton Jones LLC lifted its holdings in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares during the period. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Canaccord Genuity Group decreased their price objective on Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Guggenheim restated a "sell" rating and issued a $170.00 target price on shares of Tesla in a research note on Thursday, April 24th. Deutsche Bank Aktiengesellschaft reduced their target price on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Truist Financial set a $280.00 target price on Tesla in a research note on Tuesday, April 22nd. Finally, Argus set a $410.00 target price on Tesla in a research note on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of "Hold" and a consensus price target of $294.27.

Tesla Trading Up 3.7%

Shares of TSLA stock traded up $10.44 during trading on Friday, hitting $295.14. 163,425,518 shares of the stock traded hands, compared to its average volume of 99,671,998. The firm has a market capitalization of $950.63 billion, a P/E ratio of 144.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm's fifty day moving average price is $291.63 and its 200-day moving average price is $333.97. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54.

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

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the chief financial officer now owns 1,950 shares in the company, valued at approximately $682,500. This trade represents a 33.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia bought 4,000 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was bought at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the acquisition, the director now directly owns 4,111 shares in the company, valued at $1,053,690.41. The trade was a 3,603.60% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 870,721 shares of company stock worth $286,248,728. Insiders own 20.70% of the company's stock.

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.