Aprio Wealth Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 201.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,575 shares of the electric vehicle producer's stock after purchasing an additional 15,762 shares during the quarter. Aprio Wealth Management LLC's holdings in Tesla were worth $6,110,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in TSLA. Cherry Tree Wealth Management LLC grew its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC increased its holdings in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla in the 1st quarter valued at $27,000. Finally, Centennial Bank AR increased its holdings in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors.
Tesla Stock Performance
TSLA stock traded up $12.31 during midday trading on Friday, reaching $350.84. The stock had a trading volume of 108,740,568 shares, compared to its average volume of 72,012,552. The stock has a market cap of $1.13 trillion, a PE ratio of 202.80, a P/E/G ratio of 11.81 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm has a fifty day simple moving average of $324.00 and a two-hundred day simple moving average of $302.65. Tesla, Inc. has a 52-week low of $210.51 and a 52-week high of $488.54.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business's revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the business earned $0.52 EPS. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.
Insiders Place Their Bets
In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 143,564 shares of company stock valued at $49,396,070. Company insiders own 20.70% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on TSLA. Bank of America lifted their price target on Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Glj Research reiterated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. William Blair reiterated a "market perform" rating on shares of Tesla in a report on Friday. HSBC reiterated a "reduce" rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. Finally, Mizuho decreased their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, fourteen have given a Hold rating and nine have assigned a Sell rating to the company's stock. According to MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average target price of $303.31.
Check Out Our Latest Research Report on Tesla
About Tesla
(
Free Report)
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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