Jessup Wealth Management Inc purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 23,409 shares of the electric vehicle producer's stock, valued at approximately $6,067,000. Tesla makes up about 2.5% of Jessup Wealth Management Inc's holdings, making the stock its 15th biggest position.
A number of other institutional investors have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC increased its stake in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank boosted its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC boosted its holdings in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the last quarter. Finally, Centennial Bank AR lifted its stake in Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company's stock.
Insider Buying and Selling at Tesla
In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the firm's 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 sale, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 829,509 shares of company stock valued at $277,648,925. 20.70% of the stock is owned by insiders.
Tesla Stock Performance
NASDAQ:TSLA traded up $8.06 during trading hours on Tuesday, reaching $302.00. The company had a trading volume of 46,603,277 shares, compared to its average volume of 100,841,873. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The firm has a market cap of $972.72 billion, a PE ratio of 165.65, a price-to-earnings-growth ratio of 9.17 and a beta of 2.39. The business's 50 day moving average price is $321.10 and its 200-day moving average price is $323.46. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.
Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results 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 business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the previous year, the company earned $0.45 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.
Analysts Set New Price Targets
TSLA has been the subject of a number of recent analyst reports. BNP Paribas set a $137.00 price objective on Tesla and gave the company an "underperform" rating in a research report on Wednesday, April 16th. Truist Financial set a $280.00 price target on Tesla in a report on Tuesday, April 22nd. The Goldman Sachs Group raised their target price on shares of Tesla from $285.00 to $315.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Mizuho cut their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday. Finally, Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $301.13.
Get Our Latest Analysis on Tesla
Tesla Company Profile
(
Free Report)
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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