Red Door Wealth Management LLC Acquires 840 Shares of Tesla, Inc. (NASDAQ:TSLA)

Red Door Wealth Management LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,537 shares of the electric vehicle producer's stock after buying an additional 840 shares during the quarter. Red Door Wealth Management LLC's holdings in Tesla were worth $1,176,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC acquired a new position in Tesla during the 4th quarter valued at about $56,600,000. Means Investment CO. Inc. lifted its holdings in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Focus Financial Network Inc. boosted its position in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after buying an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. grew its holdings in Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after buying an additional 1,629 shares in the last quarter. Finally, Harvard Management Co. Inc. purchased a new stake in Tesla in the 4th quarter valued at $8,158,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Argus reissued a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Royal Bank Of Canada dropped their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Finally, TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and boosted their target price for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $301.24.

Tesla Stock Performance

Tesla stock traded down $2.09 during mid-day trading on Friday, reaching $313.56. The company's stock had a trading volume of 58,042,302 shares, compared to its average volume of 101,137,163. The company has a market capitalization of $1.01 trillion, a P/E ratio of 172.29, a PEG ratio of 9.17 and a beta of 2.39. The firm's fifty day moving average price is $320.36 and its two-hundred day moving average price is $327.07. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the firm posted $0.45 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of the company'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 sale, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. This represents a 75.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director owned 85,000 shares of the company's stock, valued at $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is owned by corporate insiders.

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.