Alpha Wealth Funds LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Alpha Wealth Funds LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 3,198 shares of the electric vehicle producer's stock, valued at approximately $1,291,000. Tesla accounts for about 1.2% of Alpha Wealth Funds LLC's portfolio, making the stock its 14th largest position.

Several other institutional investors have also recently added to or reduced their stakes in TSLA. Copia Wealth Management purchased a new position in Tesla during the fourth quarter worth approximately $571,000. IronOak Wealth LLC. purchased a new position in shares of Tesla in the 4th quarter valued at $3,832,000. Arcadia Wealth Management Inc. purchased a new position in shares of Tesla in the 4th quarter valued at $683,000. Wood Tarver Financial Group LLC purchased a new position in shares of Tesla in the 4th quarter valued at $583,000. Finally, Kilter Group LLC purchased a new position in shares of Tesla in the 4th quarter valued at $808,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the transaction, the chief financial officer now directly owns 23,084 shares of the company's stock, valued at $6,833,325.68. The trade was a 20.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director now owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 984,783 shares of company stock worth $320,019,942. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of Tesla stock traded down $9.34 during trading hours on Friday, hitting $349.09. 122,996,137 shares of the company's stock traded hands, compared to its average volume of 98,157,709. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The stock has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 171.12, a PEG ratio of 5.86 and a beta of 2.43. The company has a fifty day simple moving average of $286.92 and a 200-day simple moving average of $333.97. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the business posted $0.45 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TSLA shares. Piper Sandler set a $400.00 price target on shares of Tesla in a report on Tuesday, May 6th. Morgan Stanley reissued a "buy" rating and set a $430.00 price objective on shares of Tesla in a report on Tuesday, April 22nd. Wedbush reissued an "outperform" rating and set a $500.00 price objective (up from $350.00) on shares of Tesla in a report on Friday, May 23rd. Cantor Fitzgerald reduced their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Bank of America reduced their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $293.97.

Tesla Company 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.