Signature Wealth Management Partners LLC Acquires 1,183 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Signature Wealth Management Partners LLC increased its ownership in Tesla, acquiring an additional 1,183 shares during the first quarter, representing a 229.3% boost in their holdings, now totaling 1,699 shares valued at approximately $440,000.
• Numerous large investors modified their Tesla holdings in the fourth quarter, with institutional investors now owning 66.20% of the company's stock.
• Tesla reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43, and the company's revenue decreased by 11.8% year-over-year.

Signature Wealth Management Partners LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 229.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,699 shares of the electric vehicle producer's stock after acquiring an additional 1,183 shares during the quarter. Signature Wealth Management Partners LLC's holdings in Tesla were worth $440,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of TSLA. Eagle Capital Management LLC acquired a new position in Tesla during the 4th quarter worth about $331,000. Brighton Jones LLC raised its position in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. bought a new stake in Tesla in the fourth quarter valued at approximately $346,000. Finally, Highview Capital Management LLC DE acquired a new stake in Tesla during the 4th quarter valued at approximately $2,367,000. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Glj Research reaffirmed a "sell" rating on shares of Tesla in a research note on Thursday, July 24th. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Thursday, July 24th. JPMorgan Chase & Co. dropped their price objective on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. China Renaissance reiterated a "hold" rating and issued a $349.00 target price on shares of Tesla in a report on Friday, July 25th. Finally, Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $303.31.

Tesla Price Performance

TSLA opened at $302.63 on Friday. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The firm has a 50-day moving average of $322.22 and a 200 day moving average of $311.84. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The firm has a market cap of $976.12 billion, a P/E ratio of 174.93, a PEG ratio of 10.83 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 company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm's revenue was down 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share. On average, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated 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 transaction, the senior vice president owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 719,119 shares of company stock valued at $246,186,549. Corporate insiders own 20.70% of the company's stock.

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.

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