Red Door Wealth Management LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Red Door Wealth Management LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 22.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,537 shares of the electric vehicle producer’s stock after purchasing an additional 840 shares during the quarter. Red Door Wealth Management LLC’s holdings in Tesla were worth $1,176,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new position in Tesla in the fourth quarter worth about $56,600,000. Means Investment CO. Inc. boosted its holdings in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. grew its position in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after buying an additional 670 shares during the period. Strategic Family Wealth Counselors L.L.C. increased its holdings in Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after buying an additional 1,629 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new position in Tesla in the fourth quarter worth approximately $8,158,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on 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 completion of the transaction, the senior vice president directly owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. This trade represents a 75.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TSLA has been the subject of several analyst reports. Wedbush restated an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research note on Friday, June 20th. Barclays cut their price target on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a report on Monday, April 21st. Cowen raised Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Oppenheimer reissued a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Finally, Roth Mkm lowered their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $298.37.

Tesla Stock Down 1.8%

TSLA stock opened at $317.66 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The firm’s fifty day moving average is $316.73 and its 200 day moving average is $328.38. The firm has a market cap of $1.02 trillion, a PE ratio of 174.54, a P/E/G ratio of 12.20 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the previous year, the firm posted $0.45 EPS. On average, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.