MGB Wealth Management LLC Acquires 900 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• MGB Wealth Management LLC increased its stake in Tesla, Inc. by 119.8% in the 1st quarter, acquiring an additional 900 shares, bringing their total holdings to 1,651 shares valued at approximately $429,000.
• In the same quarter, GAMMA Investing LLC significantly boosted its position in Tesla by 27,378.6%, acquiring nearly 9.8 million shares worth about $2.54 billion.
• Tesla's recent earnings reveal a miss against analyst expectations, with reported earnings per share of $0.40 compared to a consensus estimate of $0.43, alongside a noted 11.8% decrease in revenue year-over-year.

MGB Wealth Management LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 119.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,651 shares of the electric vehicle producer's stock after buying an additional 900 shares during the quarter. MGB Wealth Management LLC's holdings in Tesla were worth $429,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC raised its position 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 worth $28,000 after buying an additional 31 shares during the period. Navigoe LLC acquired a new stake in shares of Tesla during the fourth quarter valued at about $37,000. Cherry Tree Wealth Management LLC grew its stake 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 valued at $25,000 after acquiring 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 worth $25,000 after purchasing an additional 42 shares in the last quarter. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in Tesla in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's 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 transaction, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. The trade was a 75.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 606,724 shares of company stock worth $215,376,831 in the last 90 days. Insiders own 20.70% of the company's stock.

Tesla Stock Up 3.6%

Shares of TSLA stock traded up $11.19 on Wednesday, hitting $319.91. The company's stock had a trading volume of 78,040,129 shares, compared to its average volume of 91,306,952. 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 fifty-two week low of $191.48 and a fifty-two week high of $488.54. The firm's fifty day moving average price is $319.80 and its 200-day moving average price is $309.56. The stock has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 184.92, a P/E/G ratio of 10.85 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 firm had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm's revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of research reports. Morgan Stanley reiterated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. JPMorgan Chase & Co. cut their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a report on Tuesday, July 29th. Cantor Fitzgerald cut their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, BNP Paribas set a $137.00 price target on Tesla and gave the company an "underperform" rating in a report on Wednesday, April 16th. Ten equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus price target of $303.31.

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.