Axxcess Wealth Management LLC Has $16.48 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Axxcess Wealth Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,844 shares of the electric vehicle producer's stock after acquiring an additional 4,349 shares during the quarter. Axxcess Wealth Management LLC's holdings in Tesla were worth $16,483,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Eagle Capital Management LLC bought a new position in shares of Tesla in the fourth quarter valued at $331,000. Brighton Jones LLC lifted its holdings in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after purchasing an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after purchasing an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new stake in Tesla during the 4th quarter valued at $346,000. Finally, Highview Capital Management LLC DE acquired a new stake in Tesla during the 4th quarter valued at $2,367,000. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer owned 1,950 shares in the company, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. 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.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 price target on shares of Tesla in a report on Friday, June 6th. William Blair downgraded Tesla from an "outperform" rating to a "market perform" rating in a report on Monday. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Finally, Cantor Fitzgerald dropped their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has an average rating of "Hold" and a consensus price target of $301.13.

Tesla Price Performance

Tesla stock traded up $13.99 during midday trading on Thursday, reaching $309.87. The company's stock had a trading volume of 103,742,838 shares, compared to its average volume of 100,391,799. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. 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 business has a 50-day moving average price of $322.07 and a 200-day moving average price of $322.26. The stock has a market cap of $998.08 billion, a PE ratio of 170.26, a price-to-earnings-growth ratio of 8.80 and a beta of 2.39.

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 analysts' consensus estimates 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 earned $0.45 EPS. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.