Bravias Capital Group LLC Buys 1,186 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Bravias Capital Group LLC increased its Tesla holdings by 126.6%, acquiring an additional 1,186 shares during the 1st quarter, bringing its total to 2,123 shares valued at approximately $550,000.
• Insider transactions revealed significant sales, including SVP Xiaotong Zhu selling 15,000 shares and Director Ira Matthew Ehrenpreis selling 477,572 shares, indicating a marked decrease in their ownership stakes.
• Recent analysts' ratings show mixed sentiments, with some lowering price targets, resulting in a consensus average rating of "Hold" and a price target of $303.31.

Bravias Capital Group LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 126.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,123 shares of the electric vehicle producer's stock after acquiring an additional 1,186 shares during the quarter. Bravias Capital Group LLC's holdings in Tesla were worth $550,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Rinkey Investments increased its position in shares of Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after purchasing an additional 29 shares during the last quarter. True Wealth Design LLC increased its position in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Aldebaran Financial Inc. increased its position in shares of Tesla by 3.1% during the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after purchasing an additional 35 shares during the last quarter. Acorn Wealth Advisors LLC increased its position in shares of Tesla by 1.9% during the 1st quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after purchasing an additional 36 shares during the last quarter. Finally, Capital Management Associates Inc grew its position in Tesla by 3.4% during the 1st quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after acquiring an additional 38 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. This 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 sold 606,724 shares of company stock valued at $215,376,831. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Cantor Fitzgerald reduced their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Robert W. Baird restated a "neutral" rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Benchmark reiterated a "buy" rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a report on Thursday, June 26th. UBS Group set a $290.00 target price on Tesla in a report on Monday, June 30th. Finally, Needham & Company LLC restated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $303.31.

Tesla Trading Down 0.7%

NASDAQ TSLA traded down $2.13 during mid-day trading on Tuesday, reaching $307.13. 22,769,085 shares of the stock were exchanged, compared to its average volume of 107,105,594. 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 stock has a market capitalization of $990.62 billion, a PE ratio of 177.78, a PEG ratio of 10.63 and a beta of 2.33. Tesla, Inc. has a 1-year low of $191.48 and a 1-year high of $488.54. The business's fifty day simple moving average is $321.62 and its 200 day simple moving average is $309.49.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 EPS. On average, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.