Bogart Wealth LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Bogart Wealth LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 106.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,360 shares of the electric vehicle producer's stock after acquiring an additional 1,216 shares during the quarter. Bogart Wealth LLC's holdings in Tesla were worth $612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in TSLA. Eagle Capital Management LLC bought a new position in shares of Tesla in the fourth quarter worth approximately $331,000. Brighton Jones LLC raised its position in shares of 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 buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new position in Tesla in the fourth quarter worth $346,000. Finally, Highview Capital Management LLC DE bought a new position in Tesla in the fourth quarter valued at $2,367,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on TSLA shares. Deutsche Bank Aktiengesellschaft cut their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Barclays reduced their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Finally, BNP Paribas set a $137.00 price target on shares of Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $300.19.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 835,509 shares of company stock worth $279,420,485. Company insiders own 20.70% of the company's stock.

Tesla Trading Up 1.1%

Shares of NASDAQ:TSLA opened at $316.90 on Tuesday. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The stock's fifty day moving average price is $323.33 and its 200-day moving average price is $318.52. The company has a market cap of $1.02 trillion, a P/E ratio of 174.12, a PEG ratio of 9.33 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly 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 company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the previous year, the business earned $0.45 EPS. Sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

About Tesla

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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