McGlone Suttner Wealth Management Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 4.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 4,783 shares of the electric vehicle producer’s stock after buying an additional 212 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Tesla were worth $992,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. MidWestOne Financial Group Inc. grew its holdings in Tesla by 3.3% during the first quarter. MidWestOne Financial Group Inc. now owns 472 shares of the electric vehicle producer’s stock worth $509,000 after acquiring an additional 15 shares during the period. Linscomb & Williams Inc. increased its stake in Tesla by 3.5% in the 1st quarter. Linscomb & Williams Inc. now owns 1,233 shares of the electric vehicle producer’s stock worth $1,329,000 after purchasing an additional 42 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in Tesla by 22.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 263 shares of the electric vehicle producer’s stock worth $283,000 after purchasing an additional 48 shares in the last quarter. Manchester Financial Inc. increased its stake in Tesla by 1.2% in the 4th quarter. Manchester Financial Inc. now owns 4,441 shares of the electric vehicle producer’s stock worth $547,000 after purchasing an additional 51 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. increased its stake in Tesla by 1.8% in the 4th quarter. Pinnacle Financial Partners Inc. now owns 3,176 shares of the electric vehicle producer’s stock worth $391,000 after purchasing an additional 55 shares in the last quarter. 43.51% of the stock is currently owned by institutional investors.
Insider Activity
In other news, CAO Vaibhav Taneja sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $250.04, for a total transaction of $3,000,480.00. Following the sale, the chief accounting officer now directly owns 104,504 shares in the company, valued at $26,130,180.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Tesla news, CFO Zachary Kirkhorn sold 3,750 shares of the company’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $197.31, for a total value of $739,912.50. Following the sale, the chief financial officer now directly owns 199,323 shares in the company, valued at $39,328,421.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Vaibhav Taneja sold 12,000 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $250.04, for a total value of $3,000,480.00. Following the completion of the sale, the chief accounting officer now owns 104,504 shares in the company, valued at $26,130,180.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,730 shares of company stock worth $13,035,772. Company insiders own 20.90% of the company’s stock.
Wall Street Analysts Forecast Growth
TSLA has been the topic of a number of analyst reports. Mizuho dropped their price target on Tesla from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, April 20th. Wells Fargo & Company dropped their price target on Tesla from $190.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 20th. Tudor, Pickering, Holt & Co. cut Tesla from a “hold” rating to a “sell” rating in a research note on Thursday, April 20th. Barclays cut Tesla from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $220.00 to $260.00 in a research note on Wednesday, June 21st. Finally, JPMorgan Chase & Co. lowered their target price on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Thursday, April 20th. Five research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $210.95.
Tesla Stock Up 1.7 %
Shares of TSLA stock opened at $261.77 on Monday. Tesla, Inc. has a 12 month low of $101.81 and a 12 month high of $314.67. The firm has a market cap of $829.68 billion, a PE ratio of 76.99, a price-to-earnings-growth ratio of 3.65 and a beta of 2.04. The stock has a 50 day moving average of $205.81 and a 200-day moving average of $182.24. The company has a quick ratio of 1.04, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.
Tesla (NASDAQ:TSLA – Free Report) last released its quarterly earnings data on Wednesday, April 19th. The electric vehicle producer reported $0.85 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.85. The business had revenue of $23.33 billion for the quarter, compared to analysts’ expectations of $23.36 billion. Tesla had a return on equity of 27.29% and a net margin of 13.66%. Tesla’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 2.91 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. It 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, retail merchandise, and vehicle insurance services.
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