BigSur Wealth Management LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

BigSur Wealth Management LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,491 shares of the electric vehicle producer’s stock, valued at approximately $905,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. True Wealth Design LLC lifted its holdings in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. lifted its holdings in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. lifted its holdings in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC purchased a new position in Tesla during the fourth quarter valued at $37,000. Finally, CoreFirst Bank & Trust purchased a new position in Tesla during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $325.31 on Friday. Tesla, Inc. has a 1-year low of $176.92 and a 1-year high of $488.54. The stock has a market cap of $1.05 trillion, a PE ratio of 159.47, a P/E/G ratio of 5.86 and a beta of 2.47. The firm has a 50-day simple moving average of $299.39 and a two-hundred day simple moving average of $332.88. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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 business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the firm posted $0.45 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director now owns 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. Over the last quarter, insiders sold 818,509 shares of company stock worth $273,791,775. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Bank of America decreased their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Baird R W downgraded shares of Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a “buy” rating in a research note on Thursday, April 24th. Cowen raised shares of Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Finally, Raymond James downgraded shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and a consensus price target of $293.67.

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.