Lord & Richards Wealth Management LLC Buys New Shares in Tesla, Inc. (NASDAQ:TSLA)
Lord & Richards Wealth Management LLC has acquired 1,057 shares of Tesla, Inc. (NASDAQ:TSLA) valued at approximately $274,000 during the first quarter, as reported in their Form 13F filing. Other institutional investors have also adjusted their positions in Tesla, with significant stakes acquired in the previous quarter. Tesla's stock opened at $316.90, with a market cap of $1.02 trillion. Analysts have mixed ratings on the stock, with a consensus price target of $300.19. CFO Vaibhav Taneja and Director Robyn M. Denholm have sold shares recently, indicating insider trading activity.
Lord & Richards Wealth Management LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,057 shares of the electric vehicle producer's stock, valued at approximately $274,000.
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A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Eagle Capital Management LLC acquired a new stake in shares of Tesla in the 4th quarter worth about $331,000. Brighton Jones LLC raised its holdings in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. bought a new stake in Tesla in the 4th quarter worth about $346,000. Finally, Highview Capital Management LLC DE bought a new stake in Tesla in the 4th quarter worth about $2,367,000. Institutional investors own 66.20% of the company's stock.
Tesla Trading Up 1.1%
NASDAQ:TSLA opened at $316.90 on Tuesday. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The company's 50-day simple moving average is $323.33 and its 200 day simple moving average is $318.52. The firm has a market capitalization of $1.02 trillion, a P/E ratio of 174.12, a PEG ratio of 9.33 and a beta of 2.39.
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Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the firm earned $0.45 EPS. As a group, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.
Analysts Set New Price Targets
TSLA has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. 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. Roth Mkm reduced their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. UBS Group set a $290.00 target price on shares of Tesla in a research report on Monday, June 30th. Finally, Truist Financial set a $280.00 target price on shares of Tesla in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $300.19.
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View Our Latest Stock Analysis on Tesla
Insiders Place Their Bets
In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares of the company's stock, valued at approximately $664,989. The trade was a 75.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director directly owned 85,000 shares of the company's stock, valued at $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by company insiders.
Tesla Company Profile
(Free Report)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.
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Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).
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