NewSquare Capital LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

NewSquare Capital LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 146.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 954 shares of the electric vehicle producer’s stock after buying an additional 567 shares during the quarter. NewSquare Capital LLC’s holdings in Tesla were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vista Finance LLC boosted its holdings in Tesla by 0.7% during the 4th quarter. Vista Finance LLC now owns 3,510 shares of the electric vehicle producer’s stock valued at $1,417,000 after acquiring an additional 25 shares during the period. Jmac Enterprises LLC boosted its stake in shares of Tesla by 0.7% during the fourth quarter. Jmac Enterprises LLC now owns 3,884 shares of the electric vehicle producer’s stock valued at $1,569,000 after purchasing an additional 26 shares during the period. TFB Advisors LLC boosted its stake in shares of Tesla by 0.5% during the fourth quarter. TFB Advisors LLC now owns 5,213 shares of the electric vehicle producer’s stock valued at $2,105,000 after purchasing an additional 27 shares during the period. Vista Capital Partners Inc. boosted its stake in shares of Tesla by 1.4% during the fourth quarter. Vista Capital Partners Inc. now owns 1,969 shares of the electric vehicle producer’s stock valued at $795,000 after purchasing an additional 27 shares during the period. Finally, Blackston Financial Advisory Group LLC boosted its position in Tesla by 1.3% during the 4th quarter. Blackston Financial Advisory Group LLC now owns 2,166 shares of the electric vehicle producer’s stock valued at $875,000 after buying an additional 27 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Raymond James cut shares of Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Benchmark reiterated a “buy” rating and set a $350.00 target price on shares of Tesla in a report on Wednesday, April 23rd. Piper Sandler set a $400.00 price objective on Tesla in a report on Tuesday, May 6th. HSBC dropped their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday, March 27th. Finally, Royal Bank of Canada dropped their price target on Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus price target of $293.67.

Tesla Stock Up 4.6%

Shares of Tesla stock opened at $308.58 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market capitalization of $993.92 billion, a PE ratio of 151.27, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The company has a 50-day simple moving average of $292.68 and a two-hundred day simple moving average of $333.20.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. On average, analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,564 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $285.71, for a total value of $732,560.44. Following the completion of the transaction, the chief financial officer now owns 5,924 shares of the company’s stock, valued at approximately $1,692,546.04. The trade was a 30.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Gebbia bought 4,000 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was acquired at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the transaction, the director now owns 4,111 shares in the company, valued at $1,053,690.41. The trade was a 3,603.60% increase in their position. The disclosure for this purchase can be found here. Insiders sold 818,509 shares of company stock worth $273,791,775 over the last quarter. 20.70% of the stock is currently 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.