Leigh Baldwin & CO. LLC Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

Leigh Baldwin & CO. LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 138.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,786 shares of the electric vehicle producer’s stock after purchasing an additional 5,100 shares during the quarter. Tesla makes up approximately 1.8% of Leigh Baldwin & CO. LLC’s portfolio, making the stock its 12th biggest position. Leigh Baldwin & CO. LLC’s holdings in Tesla were worth $2,277,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. True Wealth Design LLC lifted its stake in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. Navigoe LLC acquired a new position in shares of Tesla in the fourth quarter valued at approximately $37,000. Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank increased its holdings in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. acquired a new position in shares of Tesla in the fourth quarter valued at approximately $39,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TSLA shares. The Goldman Sachs Group dropped their target price on Tesla from $315.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, July 11th. Raymond James Financial lowered Tesla to an “outperform” rating in a report on Tuesday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $410.00 price objective on shares of Tesla in a report on Friday, June 6th. UBS Group set a $290.00 price objective on Tesla in a report on Monday, June 30th. Finally, Glj Research reaffirmed a “sell” rating on shares of Tesla in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $303.31.

Tesla Stock Down 1.1%

Shares of NASDAQ:TSLA opened at $335.58 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 52-week low of $202.59 and a 52-week high of $488.54. The stock’s fifty day simple moving average is $319.71 and its 200-day simple moving average is $306.28. The company has a market capitalization of $1.08 trillion, a P/E ratio of 193.98, a P/E/G ratio of 11.80 and a beta of 2.33.

Tesla (NASDAQ:TSLA) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. During the same quarter last year, the company posted $0.52 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 599,724 shares of company stock valued at $213,126,501. 20.70% of the stock is owned by corporate insiders.

About Tesla

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.