Linscomb Wealth Inc. Buys 285 Shares of Tesla, Inc. (NASDAQ:TSLA)

Linscomb Wealth Inc. boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 7.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,917 shares of the electric vehicle producer’s stock after acquiring an additional 285 shares during the quarter. Linscomb Wealth Inc.’s holdings in Tesla were worth $689,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Quadrature Capital Ltd increased its position in Tesla by 520.8% in the 1st quarter. Quadrature Capital Ltd now owns 1,238,737 shares of the electric vehicle producer’s stock valued at $217,758,000 after acquiring an additional 1,039,190 shares during the period. Stonebridge Capital Advisors LLC increased its position in Tesla by 8.5% in the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,318 shares of the electric vehicle producer’s stock valued at $232,000 after acquiring an additional 103 shares during the period. Canada Pension Plan Investment Board increased its position in Tesla by 86.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 979,760 shares of the electric vehicle producer’s stock valued at $172,232,000 after acquiring an additional 454,567 shares during the period. Westwood Holdings Group Inc. increased its position in Tesla by 466.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 15,799 shares of the electric vehicle producer’s stock valued at $2,777,000 after acquiring an additional 13,012 shares during the period. Finally, JT Stratford LLC increased its position in Tesla by 26.6% in the 1st quarter. JT Stratford LLC now owns 22,318 shares of the electric vehicle producer’s stock valued at $3,923,000 after acquiring an additional 4,690 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TSLA. Canaccord Genuity Group upped their price target on shares of Tesla from $222.00 to $254.00 and gave the company a “buy” rating in a research report on Wednesday, July 3rd. The Goldman Sachs Group decreased their price objective on shares of Tesla from $248.00 to $230.00 and set a “neutral” rating for the company in a research report on Wednesday. KGI Securities reiterated a “neutral” rating and set a $236.00 price objective on shares of Tesla in a research report on Thursday. Morgan Stanley reiterated an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research report on Thursday, July 18th. Finally, Wells Fargo & Company reiterated an “underweight” rating and set a $120.00 price objective on shares of Tesla in a research report on Monday, July 1st. Nine research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $204.30.

Tesla Stock Down 0.2 %

Shares of TSLA traded down $0.45 during trading hours on Friday, reaching $219.80. 94,604,145 shares of the stock traded hands, compared to its average volume of 132,509,544. The company has a current ratio of 1.91, a quick ratio of 1.17 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $205.68 and a 200 day simple moving average of $190.93. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $278.98. The company has a market cap of $702.18 billion, a price-to-earnings ratio of 56.07, a PEG ratio of 5.50 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, July 23rd. The electric vehicle producer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a net margin of 13.00% and a return on equity of 10.41%. The firm had revenue of $25.50 billion for the quarter, compared to the consensus estimate of $24.38 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Tesla, Inc. will post 1.85 EPS for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction dated 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 $2,772,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.

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.