Earned Wealth Advisors LLC Increases Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Earned Wealth Advisors LLC significantly increased its stake in Tesla by 193.5% during the first quarter, holding 6,252 shares valued at approximately $1.62 million.
• Various institutional investors made substantial adjustments to their Tesla positions, with Once Capital Management LLC notably increasing its holdings by 275.0% during the same period.
• Despite this interest from investors, Tesla's shares experienced a 1.8% decline in value recently, and the company reported earnings below analysts' expectations.

Earned Wealth Advisors LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 193.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,252 shares of the electric vehicle producer's stock after purchasing an additional 4,122 shares during the quarter. Earned Wealth Advisors LLC's holdings in Tesla were worth $1,620,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. SGL Investment Advisors Inc. increased its holdings in shares of Tesla by 36.0% in the 1st quarter. SGL Investment Advisors Inc. now owns 1,028 shares of the electric vehicle producer's stock valued at $293,000 after purchasing an additional 272 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Tesla by 4.3% in the 1st quarter. Commonwealth Equity Services LLC now owns 967,813 shares of the electric vehicle producer's stock valued at $250,818,000 after purchasing an additional 39,508 shares in the last quarter. Once Capital Management LLC increased its holdings in Tesla by 275.0% during the 1st quarter. Once Capital Management LLC now owns 7,500 shares of the electric vehicle producer's stock valued at $1,944,000 after acquiring an additional 5,500 shares in the last quarter. Fairfield Financial Advisors LTD increased its holdings in Tesla by 9.7% during the 1st quarter. Fairfield Financial Advisors LTD now owns 1,260 shares of the electric vehicle producer's stock valued at $327,000 after acquiring an additional 111 shares in the last quarter. Finally, Heritage Trust Co increased its holdings in Tesla by 8.8% during the 1st quarter. Heritage Trust Co now owns 1,231 shares of the electric vehicle producer's stock valued at $319,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TSLA shares. Benchmark restated a "buy" rating and set a $475.00 target price (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. The Goldman Sachs Group dropped their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a report on Friday, July 11th. Glj Research restated a "sell" rating on shares of Tesla in a report on Thursday, July 24th. William Blair downgraded shares of Tesla from an "outperform" rating to a "market perform" rating in a report on Monday, July 7th. Finally, Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Tesla currently has a consensus rating of "Hold" and an average target price of $303.31.

Tesla Stock Down 1.8%

Shares of NASDAQ:TSLA opened at $302.63 on Friday. The stock has a market capitalization of $976.12 billion, a price-to-earnings ratio of 174.93, a price-to-earnings-growth ratio of 10.63 and a beta of 2.33. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company's fifty day moving average is $322.22 and its two-hundred day moving average is $311.03. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

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 for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period last year, the company posted $0.52 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 719,119 shares of company stock valued at $246,186,549 over the last three months. 20.70% of the stock is currently owned by company insiders.

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.

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