Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Wedmont Private Capital

Wedmont Private Capital increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 38.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,957 shares of the electric vehicle producer's stock after buying an additional 15,634 shares during the quarter. Tesla comprises approximately 0.7% of Wedmont Private Capital's holdings, making the stock its 24th largest position. Wedmont Private Capital's holdings in Tesla were worth $14,119,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Wealth Group Ltd. acquired a new stake in shares of Tesla during the fourth quarter worth $275,000. Comprehensive Financial Planning Inc. PA acquired a new stake in Tesla during the 4th quarter worth about $1,361,000. Tallon Kerry Patrick purchased a new stake in Tesla during the fourth quarter valued at about $374,000. Eagle Capital Management LLC acquired a new position in shares of Tesla in the fourth quarter worth about $331,000. Finally, Brighton Jones LLC increased its position in shares of Tesla by 11.8% in 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 in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Up 3.7%

NASDAQ TSLA opened at $295.14 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $950.63 billion, a price-to-earnings ratio of 144.68, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The stock's 50 day moving average is $292.17 and its two-hundred day moving average is $333.56.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 return on equity of 10.31% and a net margin of 7.26%. During the same quarter last year, the company earned $0.45 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction on 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 completion of the transaction, the director now owns 85,000 shares of the company's stock, valued at $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 is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the 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 completion of the sale, the director now owns 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 870,721 shares of company stock valued at $286,248,728 over the last quarter. Corporate insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSLA. Guggenheim reaffirmed a "sell" rating and issued a $170.00 price objective on shares of Tesla in a research note on Thursday, April 24th. Royal Bank of Canada reduced their target price on Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company lowered their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a report on Friday, March 14th. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Finally, Robert W. Baird decreased their price objective on Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $294.27.

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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