Chokshi & Queen Wealth Advisors Inc Acquires Shares of 4,324 Tesla, Inc. (NASDAQ:TSLA)

Chokshi & Queen Wealth Advisors Inc acquired a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,324 shares of the electric vehicle producer's stock, valued at approximately $1,746,000. Tesla accounts for approximately 1.1% of Chokshi & Queen Wealth Advisors Inc's investment portfolio, making the stock its 16th biggest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Garde Capital Inc. raised its position in shares of Tesla by 28.6% during the 4th quarter. Garde Capital Inc. now owns 10,926 shares of the electric vehicle producer's stock valued at $4,412,000 after purchasing an additional 2,431 shares during the period. Instrumental Wealth LLC boosted its stake in shares of Tesla by 9.4% during the 4th quarter. Instrumental Wealth LLC now owns 1,056 shares of the electric vehicle producer's stock worth $426,000 after purchasing an additional 91 shares during the period. Hall Capital Management Co. Inc. purchased a new position in shares of Tesla during the 4th quarter worth about $764,000. Liberty Square Wealth Partners LLC bought a new stake in Tesla during the 4th quarter valued at about $864,000. Finally, Ameriflex Group Inc. bought a new stake in shares of Tesla in the 4th quarter valued at about $1,622,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several research analyst reports. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. UBS Group decreased their target price on shares of Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Canaccord Genuity Group reduced their price objective on shares of Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Cantor Fitzgerald reduced their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Royal Bank of Canada reduced their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $293.97.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the completion of the sale, the director now owns 85,000 shares of the company's stock, valued at approximately $25,466,850. This trade represents a 56.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 3,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $350.11, for a total value of $1,050,330.00. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $9,435,464.50. This trade represents a 10.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 415,623 shares of company stock worth $116,650,831. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Up 0.3%

TSLA traded up $1.21 during trading on Thursday, reaching $358.11. The company had a trading volume of 56,783,643 shares, compared to its average volume of 97,576,334. 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, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The business's fifty day moving average price is $284.09 and its 200 day moving average price is $333.75. The company has a market cap of $1.15 trillion, a P/E ratio of 175.15, a PEG ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the business earned $0.45 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS 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.