Tesla, Inc. (NASDAQ:TSLA) Position Boosted by Core Wealth Partners LLC

Core Wealth Partners LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 14.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 1,178 shares of the electric vehicle producer’s stock after buying an additional 149 shares during the quarter. Core Wealth Partners LLC’s holdings in Tesla were worth $207,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Wyrmwood Management LLC acquired a new stake in Tesla in the 4th quarter worth approximately $25,000. Lam Group Inc. bought a new position in Tesla during the fourth quarter worth about $25,000. Mendota Financial Group LLC boosted its holdings in Tesla by 202.2% during the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares in the last quarter. OLD Point Trust & Financial Services N A bought a new stake in shares of Tesla in the 4th quarter valued at approximately $37,000. Finally, Guardian Wealth Management Inc. acquired a new position in shares of Tesla in the 4th quarter worth approximately $47,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

TSLA stock traded up $15.13 during trading hours on Thursday, reaching $246.39. The stock had a trading volume of 166,561,471 shares, compared to its average volume of 80,957,576. The stock has a 50-day simple moving average of $182.57 and a 200 day simple moving average of $191.32. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The stock has a market capitalization of $785.79 billion, a PE ratio of 62.85, a price-to-earnings-growth ratio of 5.74 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The company had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Analysts predict that Tesla, Inc. will post 1.86 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. 20.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. UBS Group lowered their target price on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Wednesday, April 24th. Guggenheim increased their price target on Tesla from $126.00 to $134.00 and gave the stock a “sell” rating in a research report on Wednesday. TD Cowen raised their target price on Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Tuesday. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $189.47.

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.