Triad Wealth Partners LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 35.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,183 shares of the electric vehicle producer's stock after buying an additional 4,511 shares during the quarter. Triad Wealth Partners LLC's holdings in Tesla were worth $6,388,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Networth Advisors LLC bought a new stake in Tesla during the 4th quarter worth approximately $26,000. Chapman Financial Group LLC bought a new position in shares of Tesla in the second quarter worth approximately $26,000. Davidson Capital Management Inc. increased its stake in shares of Tesla by 79.4% in the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 27 shares in the last quarter. Prism Advisors Inc. bought a new stake in shares of Tesla during the 4th quarter valued at $30,000. Finally, Turning Point Benefit Group Inc. bought a new stake in shares of Tesla during the 3rd quarter valued at $30,000. 66.20% of the stock is owned by hedge funds and other institutional investors.
Tesla News Summary
Here are the key news stories impacting Tesla this week:
Tesla Stock Up 1.1%
TSLA opened at $405.05 on Tuesday. The firm has a 50-day simple moving average of $404.52 and a two-hundred day simple moving average of $414.98. Tesla, Inc. has a 52 week low of $288.77 and a 52 week high of $498.83. The company has a market capitalization of $1.52 trillion, a PE ratio of 371.61, a price-to-earnings-growth ratio of 16.01 and a beta of 1.80. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09.
Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.02. The firm had revenue of $22.39 billion for the quarter, compared to analysts' expectations of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The business's revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share. Analysts forecast that Tesla, Inc. will post 1.19 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
TSLA has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Tesla in a report on Monday, June 1st. Wedbush restated an "outperform" rating and issued a $600.00 price objective on shares of Tesla in a research report on Tuesday, April 21st. The Goldman Sachs Group started coverage on Tesla in a research note on Friday, June 5th. They issued a "buy" rating for the company. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Thursday, April 23rd. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Tesla in a report on Friday, April 24th. Twenty-one investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $405.06.
Get Our Latest Research Report on TSLA
Insider Activity at Tesla
In other Tesla news, CFO Vaibhav Taneja sold 3,000 shares of Tesla stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total value of $1,350,000.00. Following the sale, the chief financial officer owned 18,106 shares of the company's stock, valued at $8,147,700. The trade was a 14.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the company's stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total value of $9,985,506.99. Following the sale, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. This trade represents a 35.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 57,824 shares of company stock valued at $21,657,588 in the last 90 days. 19.90% of the stock is currently owned by company insiders.
Tesla Profile
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Free Report)
Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.
Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.
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