Syntegra Private Wealth Group LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Syntegra Private Wealth Group LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 25.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,909 shares of the electric vehicle producer’s stock after purchasing an additional 386 shares during the period. Syntegra Private Wealth Group LLC’s holdings in Tesla were worth $495,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rinkey Investments boosted its stake in Tesla by 3.5% in the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock valued at $347,000 after acquiring an additional 29 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of Tesla by 79.5% in the 4th 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 during the last quarter. Aldebaran Financial Inc. boosted its position in shares of Tesla by 3.1% in the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer’s stock valued at $490,000 after purchasing an additional 35 shares during the period. Acorn Wealth Advisors LLC grew its position in shares of Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer’s stock worth $493,000 after acquiring an additional 36 shares during the last quarter. Finally, Capital Management Associates Inc increased its stake in Tesla by 3.4% in the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer’s stock valued at $302,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Stock Performance

NASDAQ:TSLA opened at $309.26 on Tuesday. The firm has a market cap of $997.50 billion, a PE ratio of 178.76, a P/E/G ratio of 10.63 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The firm has a 50 day simple moving average of $321.62 and a 200-day simple moving average of $309.49.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data 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). The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The company’s revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the business’s 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 completion of the transaction, the senior vice president owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 606,724 shares of company stock valued at $215,376,831. 20.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on TSLA. Stifel Nicolaus set a $450.00 price target on Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Canaccord Genuity Group upped their price objective on shares of Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a research report on Thursday, July 24th. Cantor Fitzgerald reduced their target price on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Daiwa Capital Markets reiterated a “neutral” rating on shares of Tesla in a research note on Sunday, July 27th. Finally, Barclays reduced their price objective on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $303.31.

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.