PCG Wealth Advisors LLC Acquires 1,560 Shares of Tesla, Inc. (NASDAQ:TSLA)

PCG Wealth Advisors LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 47.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,835 shares of the electric vehicle producer's stock after buying an additional 1,560 shares during the quarter. PCG Wealth Advisors LLC's holdings in Tesla were worth $1,253,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Tesla by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Tesla by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares during the last quarter. Norges Bank acquired a new position in shares of Tesla in the fourth quarter valued at $14,420,248,000. FMR LLC boosted its position in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Stock Performance

Shares of Tesla stock traded up $10.24 during trading hours on Friday, hitting $329.65. 93,904,102 shares of the company's stock traded hands, compared to its average volume of 98,929,970. The company has a fifty day simple moving average of $326.27 and a 200-day simple moving average of $316.70. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 181.13, a PEG ratio of 12.56 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period last year, the business posted $0.45 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TSLA shares. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the stock an "underperform" rating in a research report on Wednesday, April 16th. Roth Mkm cut their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Finally, The Goldman Sachs Group cut their price objective on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $300.19.

Insider Transactions at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 835,509 shares of company stock worth $279,420,485. Insiders own 20.70% of the company's stock.

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.