LeConte Wealth Management LLC Makes New $590,000 Investment in Tesla, Inc. $TSLA

Key Points

• LeConte Wealth Management LLC recently bought 2,275 shares of Tesla, Inc. for about $590,000, marking Tesla as 0.4% of its investment portfolio.
• Insider transactions included significant sales by SVP Xiaotong Zhu and Director Ira Matthew Ehrenpreis, with Zhu selling 15,000 shares and Ehrenpreis selling 477,572 shares, reflecting a substantial decrease in their respective ownership stakes.
• Analysts have mixed ratings on Tesla, with a consensus rating of "Hold" and a price target averaging at $303.31, while some analysts set higher targets up to $500.00.

LeConte Wealth Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,275 shares of the electric vehicle producer's stock, valued at approximately $590,000. Tesla comprises about 0.4% of LeConte Wealth Management LLC's investment portfolio, making the stock its 28th biggest position.

Other institutional investors have also recently made changes to their positions in the company. Susquehanna Fundamental Investments LLC acquired a new position in shares of Tesla during the 4th quarter worth approximately $56,600,000. Means Investment CO. Inc. increased its holdings in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after acquiring an additional 6,323 shares during the last quarter. Focus Financial Network Inc. increased its holdings in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after acquiring an additional 670 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Tesla by 8.5% during the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after acquiring an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. acquired a new position in shares of Tesla during the 4th quarter worth approximately $8,158,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 15,000 shares of the company'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 $21,889,556. This represents a 18.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction 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 sale, the director 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 disclosure for this sale can be found here. Insiders have sold 599,724 shares of company stock valued at $213,126,501 in the last quarter. Corporate insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of TSLA stock traded down $5.8530 on Wednesday, hitting $323.4570. 69,412,721 shares of the company's stock were exchanged, compared to its average volume of 105,220,703. 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, Inc. has a 12 month low of $202.59 and a 12 month high of $488.54. The stock has a market cap of $1.04 trillion, a P/E ratio of 187.06, a price-to-earnings-growth ratio of 11.65 and a beta of 2.33. The company has a 50 day moving average of $321.01 and a 200 day moving average of $304.26.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. Tesla's quarterly revenue was down 11.8% compared to the same quarter last year. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. HSBC reissued a "reduce" rating and set a $120.00 target price on shares of Tesla in a report on Thursday, July 3rd. Benchmark reissued a "buy" rating and set a $475.00 target price (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. Piper Sandler reissued an "overweight" rating and set a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. JPMorgan Chase & Co. decreased their price objective on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Canaccord Genuity Group upped their price objective on Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have issued a Hold rating and nine have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $303.31.

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.