Tempus Wealth Planning LLC Acquires 2,681 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Tempus Wealth Planning LLC increased its Tesla holdings by 23.3% in the 1st quarter, owning a total of 14,188 shares valued at approximately $3.68 million.
• Wall Street analysts have mixed ratings on Tesla, with a consensus rating of "Hold" and a target price of $302.75, while individual firms have set varying price targets ranging from $137.00 to $410.00.
• Recent insider trading activity includes the sale of 6,000 shares by CFO Vaibhav Taneja and 91,588 shares by Director Kimbal Musk, indicating significant selling pressure from executives.

Tempus Wealth Planning LLC grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 23.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,188 shares of the electric vehicle producer's stock after purchasing an additional 2,681 shares during the quarter. Tesla makes up approximately 1.1% of Tempus Wealth Planning LLC's portfolio, making the stock its 22nd largest holding. Tempus Wealth Planning LLC's holdings in Tesla were worth $3,677,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Gilbert & Cook Inc. increased its position in Tesla by 3.9% during the first quarter. Gilbert & Cook Inc. now owns 13,109 shares of the electric vehicle producer's stock worth $3,397,000 after acquiring an additional 494 shares during the period. Brookwood Investment Group LLC bought a new position in Tesla during the first quarter worth $2,578,000. Kelman Lazarov Inc. increased its holdings in Tesla by 2.1% in the 1st quarter. Kelman Lazarov Inc. now owns 6,789 shares of the electric vehicle producer's stock valued at $1,759,000 after buying an additional 139 shares during the period. Jackson Hole Capital Partners LLC increased its holdings in Tesla by 12.1% in the 1st quarter. Jackson Hole Capital Partners LLC now owns 972 shares of the electric vehicle producer's stock valued at $252,000 after buying an additional 105 shares during the period. Finally, Atria Investments Inc increased its holdings in Tesla by 6.5% in the 1st quarter. Atria Investments Inc now owns 119,357 shares of the electric vehicle producer's stock valued at $30,933,000 after buying an additional 7,262 shares during the period. Institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was 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 of the company's stock, valued at approximately $1,777,200. This represents a 25.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock valued at $279,420,485 in the last quarter. 20.70% of the stock is owned by company insiders.

Tesla Trading Up 4.2%

Shares of TSLA stock traded up $13.17 on Monday, reaching $329.23. The company had a trading volume of 67,322,329 shares, compared to its average volume of 108,157,156. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.06 trillion, a PE ratio of 190.31, a PEG ratio of 9.93 and a beta of 2.39. The company has a 50-day moving average of $324.70 and a 200-day moving average of $313.53. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during 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 business's revenue was down 11.8% compared to the same quarter last year. During the same period last year, the company earned $0.52 earnings per share. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TSLA shares. Guggenheim reissued a "sell" rating and issued a $175.00 price target on shares of Tesla in a report on Wednesday, July 23rd. UBS Group set a $290.00 price target on shares of Tesla in a report on Monday, June 30th. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Mizuho reduced their target price on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Ten investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $302.75.

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.