TLW Wealth Management LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

TLW Wealth Management LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,280 shares of the electric vehicle producer's stock after purchasing an additional 3,045 shares during the quarter. Tesla makes up approximately 2.4% of TLW Wealth Management LLC's holdings, making the stock its 14th biggest position. TLW Wealth Management LLC's holdings in Tesla were worth $3,960,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TSLA. Wealth Group Ltd. purchased a new position in shares of Tesla during the fourth quarter valued at about $275,000. Tallon Kerry Patrick bought a new position in Tesla during the fourth quarter valued at approximately $374,000. Eagle Capital Management LLC purchased a new position in Tesla during the 4th quarter valued at approximately $331,000. Brighton Jones LLC increased its stake in Tesla by 11.8% in the 4th 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 during the last quarter. Finally, Revolve Wealth Partners LLC raised its holdings in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer owned 1,950 shares in the company, valued at $664,989. This represents a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla 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 transaction, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock valued at $278,648,925 over the last quarter. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of recent research reports. Roth Mkm cut their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Piper Sandler restated an "overweight" rating and issued a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. The Goldman Sachs Group upped their target price on shares of Tesla from $285.00 to $315.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Guggenheim reiterated a "sell" rating and issued a $175.00 price target on shares of Tesla in a research report on Monday, June 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and a consensus target price of $301.24.

Tesla Trading Down 0.7%

NASDAQ:TSLA traded down $2.09 during midday trading on Thursday, hitting $313.56. The stock had a trading volume of 58,042,302 shares, compared to its average volume of 101,397,730. The stock has a 50-day moving average of $319.28 and a 200 day moving average of $328.10. The company has a market capitalization of $1.01 trillion, a price-to-earnings ratio of 172.29, a PEG ratio of 11.41 and a beta of 2.39. Tesla, Inc. has a one year low of $182.00 and a one year 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.

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 (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the company earned $0.45 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.