PCG Wealth Advisors LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

PCG Wealth Advisors LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 47.6% during the 1st quarter, Holdings Channel.com reports. The fund owned 4,835 shares of the electric vehicle producer’s stock after acquiring an additional 1,560 shares during the period. PCG Wealth Advisors LLC’s holdings in Tesla were worth $1,253,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TSLA. Csenge Advisory Group boosted its position in shares of Tesla by 18.5% in the 1st quarter. Csenge Advisory Group now owns 27,025 shares of the electric vehicle producer’s stock valued at $6,523,000 after purchasing an additional 4,221 shares during the period. AMG National Trust Bank lifted its stake in shares of Tesla by 11.8% in the first quarter. AMG National Trust Bank now owns 4,671 shares of the electric vehicle producer’s stock valued at $1,211,000 after purchasing an additional 493 shares during the period. Formidable Asset Management LLC grew its holdings in Tesla by 9.3% in the first quarter. Formidable Asset Management LLC now owns 16,612 shares of the electric vehicle producer’s stock valued at $4,305,000 after purchasing an additional 1,410 shares during the last quarter. Mystic Asset Management Inc. raised its position in shares of Tesla by 5.8% during the 1st quarter. Mystic Asset Management Inc. now owns 1,280 shares of the electric vehicle producer’s stock worth $332,000 after purchasing an additional 70 shares during the last quarter. Finally, Washburn Capital Management Inc. increased its position in Tesla by 4.6% during the 1st quarter. Washburn Capital Management Inc. now owns 1,015 shares of the electric vehicle producer’s stock worth $263,000 after purchasing an additional 45 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. Baird R W cut Tesla from a “strong-buy” rating to a “hold” rating in a report on Monday, June 9th. Wedbush restated an “outperform” rating and set a $500.00 price objective on shares of Tesla in a research note on Tuesday, July 8th. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a “buy” rating in a research note on Thursday, April 24th. Royal Bank Of Canada cut their price objective on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, Robert W. Baird reissued a “neutral” rating and set a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned 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 presently has a consensus rating of “Hold” and an average price target of $300.19.

Tesla Trading Up 3.2%

TSLA opened at $329.65 on Friday. The company has a fifty day moving average price of $326.27 and a two-hundred day moving average price of $317.30. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.06 trillion, a P/E ratio of 181.13, a price-to-earnings-growth ratio of 12.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last announced its earnings results 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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the firm earned $0.45 EPS. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction dated 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock worth $279,420,485 over the last three months. Corporate insiders own 20.70% of the company’s stock.

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.