Journey Strategic Wealth LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Journey Strategic Wealth LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,233 shares of the electric vehicle producer's stock after buying an additional 1,985 shares during the quarter. Journey Strategic Wealth LLC's holdings in Tesla were worth $2,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC lifted its holdings in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank lifted its stake in 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 in the last quarter. Newton One Investments LLC lifted its stake in 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 in the last quarter. Arcadia Investment Management Corp MI bought a new position in Tesla during the 1st quarter valued at $27,000. Finally, True Wealth Design LLC lifted its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Down 8.2%

Tesla stock traded down $27.26 during mid-day trading on Thursday, hitting $305.30. The company had a trading volume of 156,220,895 shares, compared to its average volume of 86,459,168. The company has a market capitalization of $983.36 billion, a PE ratio of 176.47, a price-to-earnings-growth ratio of 12.63 and a beta of 2.39. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The stock's 50 day moving average price is $325.38 and its two-hundred day moving average price is $315.19.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 8.11%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the previous year, the company earned $0.52 earnings per share. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. This trade represents a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 835,509 shares of company stock valued at $279,420,485. Company insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Piper Sandler restated an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Cantor Fitzgerald decreased their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Wedbush reissued an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a report on Tuesday. Raymond James Financial lowered Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Finally, HSBC reissued a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $299.91.

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.