Global Wealth Management Investment Advisory Inc. Acquires 972 Shares of Tesla, Inc. (NASDAQ:TSLA)

Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 28.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,364 shares of the electric vehicle producer's stock after buying an additional 972 shares during the period. Global Wealth Management Investment Advisory Inc.'s holdings in Tesla were worth $1,131,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC raised its position in shares of Tesla by 86.3% during the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank raised its stake in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC raised its position in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the period. Finally, Horrell Capital Management Inc. boosted its position in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares of the company's stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the transaction, the chief financial officer owned 1,950 shares of the company's stock, valued at approximately $664,989. The trade was a 75.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 833,509 shares of company stock worth $278,648,925. Company insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TSLA. HSBC reiterated a "reduce" rating and issued a $120.00 target price on shares of Tesla in a report on Thursday. Cantor Fitzgerald lowered their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Piper Sandler reissued an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Finally, Barclays decreased their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $301.24.

Tesla Stock Down 0.7%

NASDAQ:TSLA traded down $2.09 on Friday, hitting $313.56. The stock had a trading volume of 58,042,302 shares, compared to its average volume of 101,137,163. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The firm's fifty day simple moving average is $320.93 and its two-hundred day simple moving average is $325.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The stock has a market cap of $1.01 trillion, a P/E ratio of 172.29, a price-to-earnings-growth ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the prior year, the company earned $0.45 earnings per share. Analysts predict 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.