Hartmann Taylor Wealth Management LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Hartmann Taylor Wealth Management LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,755 shares of the electric vehicle producer's stock, valued at approximately $455,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cherry Tree Wealth Management LLC grew its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank grew its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC grew its position in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the period. True Wealth Design LLC boosted its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the period. Finally, Horrell Capital Management Inc. boosted its holdings in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the period. 66.20% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on TSLA shares. Glj Research reaffirmed a "sell" rating and issued a $19.05 price objective (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Canaccord Genuity Group cut their price objective on shares of Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Robert W. Baird reaffirmed a "neutral" rating and issued a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. Cowen raised shares of Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Finally, Benchmark reaffirmed a "buy" rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $298.37.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on 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 completion of the transaction, the director now owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 in the last 90 days. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Tesla stock opened at $323.63 on Friday. The firm's fifty day moving average price is $314.93 and its 200-day moving average price is $329.82. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The stock has a market cap of $1.04 trillion, a P/E ratio of 177.82, a price-to-earnings-growth ratio of 12.10 and a beta of 2.47. 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 quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the business posted $0.45 EPS. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla Company 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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