Tesla, Inc. (NASDAQ:TSLA) is RWQ Financial Management Services Inc.'s 3rd Largest Position

RWQ Financial Management Services Inc. grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 37.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,286 shares of the electric vehicle producer's stock after buying an additional 14,781 shares during the period. Tesla accounts for approximately 9.3% of RWQ Financial Management Services Inc.'s holdings, making the stock its 3rd biggest holding. RWQ Financial Management Services Inc.'s holdings in Tesla were worth $14,069,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. True Wealth Design LLC boosted its position 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 purchasing an additional 31 shares during the period. Horrell Capital Management Inc. boosted its position 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 purchasing an additional 34 shares during the period. GS Investments Inc. boosted its position 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 purchasing an additional 58 shares during the period. Navigoe LLC purchased a new stake in Tesla during the 4th quarter worth $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in Tesla during the 4th quarter worth $38,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the transaction, the chief financial officer owned 1,950 shares of the company's stock, valued at approximately $664,989. This trade represents a 75.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

NASDAQ:TSLA traded up $10.24 during trading hours on Friday, reaching $329.65. 93,904,102 shares of the company's stock were exchanged, compared to its average volume of 98,931,852. The company has a market capitalization of $1.06 trillion, a P/E ratio of 181.13, a price-to-earnings-growth ratio of 9.80 and a beta of 2.39. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The business's 50-day simple moving average is $325.64 and its two-hundred day simple moving average is $317.81.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its 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). 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 9.02% and a net margin of 6.66%. During the same quarter in the previous year, the business posted $0.45 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wedbush reaffirmed an "outperform" rating and set a $500.00 price target on shares of Tesla in a research report on Tuesday, July 8th. JPMorgan Chase & Co. cut their price objective 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. Roth Mkm cut their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Tesla currently has an average rating of "Hold" and an average price target of $300.19.

About Tesla

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.