Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Wealth Management Partners LLC

Wealth Management Partners LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 7.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,829 shares of the electric vehicle producer's stock after purchasing an additional 1,160 shares during the quarter. Tesla comprises approximately 2.1% of Wealth Management Partners LLC's portfolio, making the stock its 11th largest holding. Wealth Management Partners LLC's holdings in Tesla were worth $4,621,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC raised its stake in Tesla by 79.5% during the fourth 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. raised 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 buying an additional 34 shares during the period. GS Investments Inc. lifted its holdings in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC acquired a new position in Tesla in the fourth quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust purchased a new position in Tesla in the fourth quarter worth approximately $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Up 3.7%

Tesla stock traded up $10.44 during mid-day trading on Friday, hitting $295.14. The company had a trading volume of 163,425,518 shares, compared to its average volume of 99,550,946. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The business has a fifty day moving average of $291.63 and a 200 day moving average of $333.97. The stock has a market cap 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 (NASDAQ:TSLA - Get Free Report) last posted its 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 company had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the business earned $0.45 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The shares were 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 now owns 855,394 shares in the company, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the chief financial officer now 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 disclosure for this sale can be found here. Insiders have sold 870,721 shares of company stock worth $286,248,728 in the last quarter. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on TSLA shares. Bank of America decreased their price target on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. HSBC decreased their target price on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research report on Thursday, March 27th. Truist Financial set a $280.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Wedbush set a $500.00 price objective on shares of Tesla in a report on Thursday. Finally, BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an "underperform" rating in a report on Wednesday, April 16th. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $294.27.

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.