Adamsbrown Wealth Consultants LLC Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Adamsbrown Wealth Consultants LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 49.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,847 shares of the electric vehicle producer's stock after purchasing an additional 937 shares during the quarter. Adamsbrown Wealth Consultants LLC's holdings in Tesla were worth $738,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TSLA. Wealth Group Ltd. purchased a new position in Tesla during the fourth quarter valued at approximately $275,000. Comprehensive Financial Planning Inc. PA purchased a new position in Tesla during the fourth quarter valued at approximately $1,361,000. Tallon Kerry Patrick bought a new stake in Tesla in the fourth quarter worth approximately $374,000. Eagle Capital Management LLC bought a new position in shares of Tesla during the 4th quarter valued at $331,000. Finally, Brighton Jones LLC raised its holdings in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after purchasing an additional 9,293 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on TSLA shares. Royal Bank of Canada cut their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. UBS Group lowered their target price on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. The Goldman Sachs Group lowered their target price on shares of Tesla from $295.00 to $285.00 and set a "neutral" rating on the stock in a research note on Friday. Raymond James lowered shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Finally, HSBC lowered their target price on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research note on Thursday, March 27th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and a consensus price target of $294.27.

Tesla Trading Up 3.7%

NASDAQ TSLA traded up $10.44 during trading hours on Friday, reaching $295.14. The company's stock had a trading volume of 163,425,518 shares, compared to its average volume of 99,690,029. The firm has a fifty day simple moving average of $292.17 and a 200-day simple moving average of $333.62. The stock has a market cap of $950.63 billion, a P/E ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the business earned $0.45 EPS. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, the chief financial officer now directly owns 1,950 shares in the company, valued at approximately $682,500. This represents a 33.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction that occurred on 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 directly owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 870,721 shares of company stock worth $286,248,728 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

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.