BCS Wealth Management boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,328 shares of the electric vehicle producer’s stock after purchasing an additional 61 shares during the period. BCS Wealth Management’s holdings in Tesla were worth $887,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of TSLA. Legacy Financial Advisors Inc. increased its position in Tesla by 14.7% in the 1st quarter. Legacy Financial Advisors Inc. now owns 860 shares of the electric vehicle producer’s stock valued at $574,000 after buying an additional 110 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in Tesla by 16.1% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 243,164 shares of the electric vehicle producer’s stock worth $157,314,000 after purchasing an additional 33,709 shares during the period. Crestone Asset Management LLC increased its stake in shares of Tesla by 1.6% during the first quarter. Crestone Asset Management LLC now owns 1,360 shares of the electric vehicle producer’s stock valued at $908,000 after buying an additional 22 shares during the period. GFG Capital LLC boosted its holdings in Tesla by 4.1% in the first quarter. GFG Capital LLC now owns 1,249 shares of the electric vehicle producer’s stock worth $834,000 after acquiring an additional 49 shares in the last quarter. Finally, Cypress Wealth Services LLC lifted its holdings in shares of Tesla by 0.6% during the first quarter. Cypress Wealth Services LLC now owns 5,088 shares of the electric vehicle producer’s stock valued at $3,398,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 41.39% of the company’s stock.
Several equities research analysts have recently weighed in on TSLA shares. Royal Bank of Canada upgraded Tesla from an “underperform” rating to a “sector perform” rating in a report on Thursday, January 7th. Roth Capital reaffirmed a “neutral” rating and set a $150.00 price target on shares of Tesla in a research report on Thursday, January 28th. Credit Suisse Group reiterated a “neutral” rating and set a $800.00 price objective on shares of Tesla in a research note on Monday. JMP Securities lowered Tesla from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 28th. They noted that the move was a valuation call. Finally, Wedbush restated a “buy” rating and set a $1,000.00 target price on shares of Tesla in a report on Friday, April 9th. Eleven investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $421.93.
Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Sunday, April 25th. The electric vehicle producer reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.14. Tesla had a return on equity of 4.93% and a net margin of 1.97%. The firm had revenue of $10.39 billion for the quarter, compared to analysts’ expectations of $9.89 billion. During the same period in the prior year, the business earned $0.23 EPS. The company’s revenue for the quarter was up 73.6% compared to the same quarter last year. Sell-side analysts anticipate that Tesla, Inc. will post 1.02 EPS for the current fiscal year.
In other Tesla news, Director Kimbal Musk sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $852.12, for a total value of $25,563,600.00. Following the completion of the transaction, the director now owns 621,769 shares in the company, valued at approximately $529,821,800.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Zachary Kirkhorn sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $778.17, for a total value of $972,712.50. Following the completion of the transaction, the chief financial officer now owns 55,007 shares of the company’s stock, valued at approximately $42,804,797.19. The disclosure for this sale can be found here. Insiders sold a total of 145,153 shares of company stock valued at $109,617,129 over the last three months. 23.00% of the stock is currently owned by insiders.
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.
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