Enzi Wealth Acquires 2,050 Shares of Tesla, Inc. (NASDAQ:TSLA)

Enzi Wealth lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 115.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,827 shares of the electric vehicle producer's stock after purchasing an additional 2,050 shares during the quarter. Tesla accounts for about 0.4% of Enzi Wealth's portfolio, making the stock its 26th largest position. Enzi Wealth's holdings in Tesla were worth $993,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TSLA. True Wealth Design LLC raised its position in Tesla by 79.5% in the fourth 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. Horrell Capital Management Inc. increased its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after buying an additional 34 shares during the period. GS Investments Inc. raised its holdings in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after buying an additional 58 shares during the last quarter. Navigoe LLC acquired a new stake in Tesla during the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla during the 4th quarter worth approximately $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the sale, the chief financial officer owned 1,950 shares in the company, valued at $664,989. This represents a 75.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director owned 85,000 shares of the company's stock, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on TSLA. Cantor Fitzgerald cut their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. HSBC decreased their price objective on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research report on Thursday, March 27th. Wedbush restated an "outperform" rating and issued a $500.00 target price on shares of Tesla in a report on Tuesday. Stifel Nicolaus set a $450.00 price target on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Canaccord Genuity Group reissued a "buy" rating and issued a $303.00 price objective on shares of Tesla in a research note on Monday. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $298.37.

Tesla Stock Up 4.6%

TSLA stock traded up $13.95 during mid-day trading on Wednesday, reaching $314.66. 69,383,309 shares of the company traded hands, compared to its average volume of 101,800,038. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The firm's 50 day moving average price is $317.99 and its 200 day moving average price is $328.19. The stock has a market cap of $1.01 trillion, a price-to-earnings ratio of 172.52, a P/E/G ratio of 12.06 and a beta of 2.40. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS 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.