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WealthShield Partners LLC Purchases 3,717 Shares of Tesla, Inc. $TSLA

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Key Points

  • WealthShield Partners LLC increased its Tesla stake by 84.9% in the first quarter, buying 3,717 additional shares and bringing its total holdings to 8,093 shares valued at about $3.0 million.
  • Several other institutional investors also boosted or initiated positions in Tesla, and overall hedge funds and institutions now own 66.20% of the stock.
  • Tesla’s shares were trading around $407.76 after a modest gain, while analysts remained mixed with a consensus “Hold” rating and average price target of $406.87.
  • MarketBeat previews the top five stocks to own by August 1st.

WealthShield Partners LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 84.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,093 shares of the electric vehicle producer's stock after purchasing an additional 3,717 shares during the quarter. WealthShield Partners LLC's holdings in Tesla were worth $3,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TSLA. Networth Advisors LLC bought a new position in Tesla in the 4th quarter worth about $26,000. Chapman Financial Group LLC purchased a new stake in Tesla in the second quarter valued at approximately $26,000. Davidson Capital Management Inc. grew its stake in Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 27 shares in the last quarter. Friedenthal Financial increased its holdings in shares of Tesla by 66.7% in the 1st quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 30 shares during the last quarter. Finally, Prism Advisors Inc. purchased a new stake in shares of Tesla during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 2,606 shares of the company's stock in a transaction on Monday, June 8th. The shares were sold at an average price of $402.20, for a total transaction of $1,048,133.20. Following the completion of the sale, the chief financial officer directly owned 22,039 shares in the company, valued at $8,864,085.80. This represents a 10.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director directly owned 48,399 shares of the company's stock, valued at $18,300,145.89. The trade was a 35.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 32,015 shares of company stock valued at $12,383,640 over the last quarter. 19.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TSLA shares. UBS Group lifted their price objective on shares of Tesla from $364.00 to $442.00 and gave the stock a "neutral" rating in a report on Thursday. Zacks Research raised Tesla from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 28th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Tesla in a research note on Friday, April 24th. China Renaissance decreased their price target on shares of Tesla from $382.00 to $372.00 and set a "hold" rating on the stock in a research note on Monday, April 27th. Finally, Citigroup assumed coverage on shares of Tesla in a report on Thursday. They issued a "market perform" rating for the company. Twenty-one investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $406.87.

Check Out Our Latest Report on Tesla

Tesla Trading Up 0.3%

TSLA traded up $1.21 on Friday, hitting $407.76. 33,333,565 shares of the company were exchanged, compared to its average volume of 42,504,768. The firm has a fifty day simple moving average of $410.46 and a two-hundred day simple moving average of $409.23. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. Tesla, Inc. has a 12 month low of $297.82 and a 12 month high of $498.83. The stock has a market capitalization of $1.53 trillion, a PE ratio of 374.09, a price-to-earnings-growth ratio of 14.89 and a beta of 1.80.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. The firm had revenue of $22.39 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.27 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 1.3 earnings per share for the current year.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

About Tesla

(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.

See Also

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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