Oakwell Private Wealth Management LLC Acquires Shares of 961 Tesla, Inc. (NASDAQ:TSLA)

Oakwell Private Wealth Management LLC purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 961 shares of the electric vehicle producer's stock, valued at approximately $249,000.

Other hedge funds have also made changes to their positions in the company. Rinkey Investments lifted its position in Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after buying an additional 29 shares in the last quarter. True Wealth Design LLC boosted its position 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 in the last quarter. Horrell Capital Management Inc. raised its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after acquiring an additional 34 shares during the last quarter. Aldebaran Financial Inc. raised its stake in shares of Tesla by 3.1% in the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after acquiring an additional 35 shares during the last quarter. Finally, Acorn Wealth Advisors LLC lifted its position in shares of Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock worth $493,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm'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 owned 67,600 shares of the company's stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on TSLA shares. Barclays lowered their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. HSBC reaffirmed a "reduce" rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research note on Friday, June 6th. JPMorgan Chase & Co. cut their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, Roth Mkm cut their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $299.91.

Tesla Trading Down 7.8%

NASDAQ TSLA traded down $26.06 on Thursday, hitting $306.50. The company's stock had a trading volume of 133,523,872 shares, compared to its average volume of 108,021,172. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company's 50-day moving average is $326.13 and its 200 day moving average is $315.92. The firm has a market cap of $987.22 billion, a PE ratio of 168.41, a PEG ratio of 12.61 and a beta of 2.39.

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 the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the company posted $0.52 earnings per share. The company's revenue was down 11.8% compared to the same quarter last year. As a group, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

About Tesla

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.