Private Wealth Partners LLC Buys 2,664 Shares of Tesla, Inc. $TSLA

Private Wealth Partners LLC increased its stake in Tesla, Inc. (NASDAQ:TSLAFree Report) by 43.4% in the 1st quarter, Holdings Channel reports. The firm owned 8,804 shares of the electric vehicle producer’s stock after purchasing an additional 2,664 shares during the period. Private Wealth Partners LLC’s holdings in Tesla were worth $3,273,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TSLA. Networth Advisors LLC acquired a new stake in shares of Tesla in the fourth quarter worth $26,000. Chapman Financial Group LLC acquired a new position in Tesla in the 2nd quarter valued at $26,000. Davidson Capital Management Inc. raised its holdings in Tesla by 79.4% in the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 27 shares during the period. Friedenthal Financial lifted its position in Tesla by 66.7% during the 1st quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 30 shares during the last quarter. Finally, Prism Advisors Inc. acquired a new position in Tesla during the 4th quarter worth $30,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TSLA. Jefferies Financial Group raised their price target on Tesla from $350.00 to $375.00 and gave the company a “hold” rating in a research report on Monday, June 22nd. Truist Financial boosted their price objective on Tesla from $400.00 to $430.00 and gave the stock a “hold” rating in a research report on Thursday. Guggenheim initiated coverage on Tesla in a research note on Monday, June 29th. They set a “neutral” rating for the company. China Renaissance lowered their target price on Tesla from $382.00 to $372.00 and set a “hold” rating on the stock in a report on Monday, April 27th. Finally, BNP Paribas Exane downgraded Tesla from a “hold” rating to an “underperform” rating in a research report on Friday, June 5th. Twenty-one analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Tesla has a consensus rating of “Hold” and an average target price of $403.92.

Get Our Latest Report on TSLA

Tesla Stock Performance

NASDAQ:TSLA opened at $393.45 on Friday. The firm’s 50-day moving average is $407.39 and its 200-day moving average is $411.79. Tesla, Inc. has a 52-week low of $288.77 and a 52-week high of $498.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. The company has a market cap of $1.48 trillion, a price-to-earnings ratio of 360.96, a PEG ratio of 15.61 and a beta of 1.80.

Tesla (NASDAQ:TSLAGet Free Report) last released its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.02. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The business had revenue of $22.39 billion during the quarter, compared to analysts’ expectations of $22.96 billion. During the same quarter last year, the company earned $0.27 earnings per share. The firm’s revenue was up 15.8% on a year-over-year basis. Equities research analysts anticipate that Tesla, Inc. will post 1.2 earnings per share for the current year.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

Insider Activity at Tesla

In other news, Director Kathleen Wilson-Thompson sold 26,409 shares of Tesla stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the sale, the director owned 48,399 shares of the company’s stock, valued at approximately $18,300,145.89. This trade represents a 35.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the sale, the chief financial officer owned 18,106 shares in the company, valued at approximately $8,147,700. This represents a 14.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 32,015 shares of company stock valued at $12,383,640. Insiders own 19.90% of the company’s stock.

Tesla Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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