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

Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 28.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,364 shares of the electric vehicle producer's stock after purchasing an additional 972 shares during the quarter. Global Wealth Management Investment Advisory Inc.'s holdings in Tesla were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TSLA. True Wealth Design LLC grew its holdings in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Horrell Capital Management Inc. grew its holdings in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. grew its holdings in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC bought a new stake in Tesla during the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla during the 4th quarter worth approximately $38,000. 66.20% of the stock is owned by institutional investors.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The transaction 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 company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is owned by insiders.

Tesla Stock Down 0.7%

TSLA stock traded down $2.09 during midday trading on Friday, reaching $313.56. 58,042,302 shares of the company's stock traded hands, compared to its average volume of 100,923,382. The company has a market cap of $1.01 trillion, a price-to-earnings ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39. The firm's fifty day moving average price is $320.93 and its 200-day moving average price is $325.13. 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 52 week low of $182.00 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for 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 quarter last year, the firm posted $0.45 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of research reports. Barclays reduced their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Wedbush restated an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research report on Tuesday, July 1st. Finally, Needham & Company LLC restated a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $301.60.

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.