Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Spire Wealth Management

Spire Wealth Management increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,552 shares of the electric vehicle producer's stock after buying an additional 1,082 shares during the quarter. Spire Wealth Management's holdings in Tesla were worth $8,177,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Saxony Capital Management LLC grew its stake in Tesla by 2.8% during the 1st quarter. Saxony Capital Management LLC now owns 4,304 shares of the electric vehicle producer's stock worth $1,115,000 after buying an additional 117 shares during the last quarter. Golden State Equity Partners grew its stake in Tesla by 5.4% during the 1st quarter. Golden State Equity Partners now owns 11,938 shares of the electric vehicle producer's stock worth $3,094,000 after buying an additional 609 shares during the last quarter. S.A. Mason LLC grew its stake in Tesla by 8.3% during the 1st quarter. S.A. Mason LLC now owns 1,573 shares of the electric vehicle producer's stock worth $408,000 after buying an additional 120 shares during the last quarter. Mattern Wealth Management LLC grew its stake in Tesla by 16.8% during the 1st quarter. Mattern Wealth Management LLC now owns 884 shares of the electric vehicle producer's stock worth $229,000 after buying an additional 127 shares during the last quarter. Finally, Balance Wealth LLC bought a new position in Tesla during the 1st quarter worth $355,000. 66.20% of the stock is currently owned by institutional investors.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the firm's 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 completion of the sale, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction dated 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 sale, the director now owns 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 in the last quarter. 20.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TSLA. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and upped their price objective for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Robert W. Baird restated a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Mizuho increased their target price on shares of Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Cantor Fitzgerald decreased their target price on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Glj Research reiterated a "sell" rating and issued a $19.05 target price (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus target price of $294.58.

Tesla Trading Down 3.8%

NASDAQ:TSLA opened at $327.55 on Thursday. 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 firm has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 179.97, a price-to-earnings-growth ratio of 12.73 and a beta of 2.47. The stock has a fifty day simple moving average of $311.59 and a 200 day simple moving average of $331.45.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the business earned $0.45 EPS. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.

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