Total Wealth Planning & Management Inc. Invests $455,000 in Tesla, Inc. (NASDAQ:TSLA)

Total Wealth Planning & Management Inc. bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,126 shares of the electric vehicle producer's stock, valued at approximately $455,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hengehold Capital Management LLC increased its holdings in shares of Tesla by 1.8% in the fourth quarter. Hengehold Capital Management LLC now owns 1,347 shares of the electric vehicle producer's stock valued at $544,000 after buying an additional 24 shares in the last quarter. Strategic Investment Advisors MI raised its stake in Tesla by 0.3% during the 4th quarter. Strategic Investment Advisors MI now owns 6,990 shares of the electric vehicle producer's stock valued at $2,823,000 after purchasing an additional 24 shares during the period. Vista Finance LLC raised its stake in Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer's stock valued at $1,417,000 after purchasing an additional 25 shares during the period. Prospect Financial Services LLC raised its stake in Tesla by 0.3% during the 4th quarter. Prospect Financial Services LLC now owns 7,500 shares of the electric vehicle producer's stock valued at $3,029,000 after purchasing an additional 26 shares during the period. Finally, Jmac Enterprises LLC raised its stake in Tesla by 0.7% during the 4th quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer's stock valued at $1,569,000 after purchasing an additional 26 shares during the period. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. HSBC cut 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. Guggenheim reissued a "sell" rating and set a $170.00 target price on shares of Tesla in a research report on Thursday, April 24th. Royal Bank of Canada lowered their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Benchmark reissued a "buy" rating and set a $350.00 target price on shares of Tesla in a research report on Wednesday, April 23rd. Finally, Canaccord Genuity Group lowered their target price on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and an average target price of $293.97.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director now directly owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of Tesla stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the sale, the chief financial officer now owns 26,950 shares in the company, valued at $7,242,273.50. The trade was a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 984,783 shares of company stock worth $320,019,942 over the last ninety days. Company insiders own 20.70% of the company's stock.

Tesla Trading Down 2.5%

TSLA stock traded down $8.82 during midday trading on Friday, reaching $349.61. The company's stock had a trading volume of 70,236,659 shares, compared to its average volume of 97,757,712. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The stock has a market cap of $1.13 trillion, a PE ratio of 171.02, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business's 50-day simple moving average is $285.70 and its 200-day simple moving average is $333.80.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly 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 firm 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 period in the prior year, the business earned $0.45 earnings per share. As a group, sell-side analysts expect 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.