Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by CCG Wealth Management LLC

CCG Wealth Management LLC raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,470 shares of the electric vehicle producer’s stock after buying an additional 140 shares during the period. Tesla makes up 0.8% of CCG Wealth Management LLC’s portfolio, making the stock its 23rd biggest position. CCG Wealth Management LLC’s holdings in Tesla were worth $1,418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC boosted its position in shares of Tesla by 86.3% during the 1st 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 in the last quarter. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after purchasing an additional 75 shares in the last quarter. True Wealth Design LLC boosted its position in shares of Tesla by 79.5% during 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 in the last quarter. Horrell Capital Management Inc. boosted its position in shares of Tesla by 75.6% during the 4th 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. Finally, Pflug Koory LLC boosted its position in shares of Tesla by 370.4% during the 1st quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Stock Performance

TSLA stock opened at $322.16 on Friday. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 177.01, a P/E/G ratio of 12.04 and a beta of 2.47. Tesla, Inc. has a 12 month low of $180.69 and a 12 month high of $488.54. The firm has a 50 day moving average of $306.22 and a two-hundred day moving average of $332.14.

Tesla (NASDAQ:TSLA) last posted its 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 business had revenue of $19.34 billion during the quarter, compared to the consensus estimate 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 prior year, the firm earned $0.45 earnings per share. As a group, equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the sale, the senior vice president now directly owns 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock valued at $278,648,925 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TSLA shares. Cantor Fitzgerald reduced their price objective on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. UBS Group reduced their price objective on shares of Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and raised their price objective for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Canaccord Genuity Group decreased their target price on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $293.67.

Tesla Company 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.