Investment Counsel Co. of Nevada Has $263,000 Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Investment Counsel Co. of Nevada significantly increased its **stake in Tesla** by **5,876.5%**, now owning **1,016 shares** worth approximately **$263,000**, making it the firm's **29th largest holding**.
• Institutional investors hold **66.20%** of Tesla's stock, indicating strong institutional backing, while a variety of other investors have also increased their positions in the company.
• Analysts have mixed views on Tesla, with **ten rated as sell**, **fifteen as hold**, **seventeen as buy**, and one as strong buy, resulting in an average target price of **$303.31** for the stock.

Investment Counsel Co. of Nevada grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5,876.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,016 shares of the electric vehicle producer's stock after purchasing an additional 999 shares during the quarter. Tesla comprises approximately 0.6% of Investment Counsel Co. of Nevada's holdings, making the stock its 29th largest holding. Investment Counsel Co. of Nevada's holdings in Tesla were worth $263,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TSLA. True Wealth Design LLC lifted its holdings in shares of 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 in the last quarter. Navigoe LLC acquired a new position in Tesla during the fourth quarter valued at approximately $37,000. Cherry Tree Wealth Management LLC grew its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank grew its stake in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Tesla during the 4th quarter worth approximately $39,000. Institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TSLA shares. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Wedbush reaffirmed an "outperform" rating and set a $500.00 price target on shares of Tesla in a research report on Monday. Guggenheim reiterated a "sell" rating and issued a $175.00 target price on shares of Tesla in a research note on Wednesday, July 23rd. Bank of America raised their target price on shares of Tesla from $305.00 to $341.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Benchmark reiterated a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Ten research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tesla presently has an average rating of "Hold" and an average target price of $303.31.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $309.26 on Tuesday. The company's 50 day simple moving average is $321.62 and its 200 day simple moving average is $309.49. The stock has a market capitalization of $997.50 billion, a price-to-earnings ratio of 178.76, 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 has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business's quarterly revenue was down 11.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. As a group, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 606,724 shares of company stock worth $215,376,831. Company insiders own 20.70% of the company's stock.

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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