LMG Wealth Partners LLC Buys 1,789 Shares of Tesla, Inc. (NASDAQ:TSLA)

LMG Wealth Partners LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,664 shares of the electric vehicle producer's stock after purchasing an additional 1,789 shares during the quarter. LMG Wealth Partners LLC's holdings in Tesla were worth $3,023,000 as of its most recent SEC filing.

Several other 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% during the first 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 during the period. First PREMIER Bank lifted its holdings 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 buying an additional 42 shares during the period. Newton One Investments LLC lifted its holdings in Tesla by 250.0% in the first 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 period. Arcadia Investment Management Corp MI acquired a new position in Tesla in the first quarter valued at $27,000. Finally, True Wealth Design LLC lifted its holdings in 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 buying an additional 31 shares during the period. 66.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares of the company's stock, valued at approximately $664,989. The trade was a 75.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 835,509 shares of company stock worth $279,420,485. Insiders own 20.70% of the company's stock.

Tesla Price Performance

TSLA traded down $2.26 during trading on Thursday, hitting $319.41. 73,312,435 shares of the company traded hands, compared to its average volume of 99,014,483. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The company has a market cap of $1.03 trillion, a PE ratio of 175.50, a P/E/G ratio of 9.26 and a beta of 2.39. The stock's 50-day simple moving average is $324.95 and its two-hundred day simple moving average is $318.49. 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 (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the previous year, the business earned $0.45 earnings per share. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TSLA shares. Mizuho decreased their price target on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. The Goldman Sachs Group decreased their price target on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Robert W. Baird reaffirmed a "neutral" rating and issued a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Guggenheim reissued a "sell" rating and set a $175.00 target price on shares of Tesla in a research report on Tuesday, July 8th. Finally, Argus reissued a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $300.19.

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.