WealthShield Partners LLC Purchases 1,242 Shares of Tesla, Inc. (NASDAQ:TSLA)

Key Points

• WealthShield Partners LLC has increased its stock position in Tesla, Inc. by 56.1%, reaching a total value of $895,000 as of the last quarter.
• Institutional investors and hedge funds collectively own 66.20% of Tesla's stock, indicating significant confidence in the company.
• Tesla's recent quarterly earnings report revealed earnings per share of $0.40, missing analysts' expectations and showing an 11.8% decrease in revenue year-over-year.

WealthShield Partners LLC boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 56.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,455 shares of the electric vehicle producer's stock after purchasing an additional 1,242 shares during the period. WealthShield Partners LLC's holdings in Tesla were worth $895,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer's stock worth $63,983,418,000 after buying an additional 3,694,524 shares during the last quarter. Northern Trust Corp raised its holdings in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after acquiring an additional 5,075,418 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Tesla by 322.1% during the first quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer's stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Tesla by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock valued at $9,908,828,000 after purchasing an additional 158,697 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Tesla by 19.8% in the fourth quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer's stock valued at $5,294,010,000 after purchasing an additional 2,170,449 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the sale, the chief financial officer owned 1,950 shares of the company's stock, valued at approximately $664,989. This trade represents a 75.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction 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 transaction, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 602,724 shares of company stock valued at $214,176,831 in the last three months. Company insiders own 20.70% of the company's stock.

Tesla Price Performance

TSLA stock traded up $7.34 during midday trading on Friday, reaching $329.61. The company had a trading volume of 90,979,625 shares, compared to its average volume of 106,810,094. Tesla, Inc. has a 1-year low of $194.67 and a 1-year high of $488.54. The stock has a 50 day moving average price of $319.07 and a 200-day moving average price of $308.84. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. The company has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 190.53, a price-to-earnings-growth ratio of 11.24 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. Tesla's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of analyst reports. Robert W. Baird reiterated a "neutral" rating and set a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Barclays dropped their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Wedbush reissued an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research report on Monday. Mizuho dropped their target price on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $410.00 price target on shares of Tesla in a report on Friday, June 6th. Ten research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average price target of $303.31.

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.