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

Wealth Effects LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,010 shares of the electric vehicle producer’s stock after purchasing an additional 340 shares during the quarter. Tesla comprises 0.8% of Wealth Effects LLC’s portfolio, making the stock its 26th largest holding. Wealth Effects LLC’s holdings in Tesla were worth $1,817,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Omnia Family Wealth LLC boosted its stake in Tesla by 46.6% during the 1st quarter. Omnia Family Wealth LLC now owns 3,248 shares of the electric vehicle producer’s stock valued at $842,000 after purchasing an additional 1,032 shares in the last quarter. New World Advisors LLC bought a new position in Tesla during the 1st quarter valued at $211,000. Inman Jager Wealth Management LLC boosted its stake in Tesla by 14.8% during the 1st quarter. Inman Jager Wealth Management LLC now owns 1,304 shares of the electric vehicle producer’s stock valued at $338,000 after purchasing an additional 168 shares in the last quarter. Cvfg LLC boosted its stake in Tesla by 50.4% during the 1st quarter. Cvfg LLC now owns 3,350 shares of the electric vehicle producer’s stock valued at $868,000 after purchasing an additional 1,123 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in Tesla during the 1st quarter valued at $754,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of several research reports. Benchmark reissued a “buy” rating and set a $350.00 price objective on shares of Tesla in a research note on Wednesday, April 23rd. Cantor Fitzgerald reduced their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group reissued a “neutral” rating on shares of Tesla in a research note on Friday, June 20th. Barclays reduced their price objective on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Finally, Royal Bank Of Canada reduced their price objective on Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $294.58.

Insider Buying and Selling at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director now directly owns 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 over the last three months. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA opened at $327.55 on Thursday. The stock has a market cap of $1.06 trillion, a price-to-earnings ratio of 179.97, a PEG ratio of 12.73 and a beta of 2.47. 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 stock has a fifty day moving average price of $311.59 and a 200 day moving average price of $331.45.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the business posted $0.45 EPS. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.