Great Waters Wealth Management Has $938,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Great Waters Wealth Management trimmed its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,618 shares of the electric vehicle producer’s stock after selling 702 shares during the period. Great Waters Wealth Management’s holdings in Tesla were worth $938,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of TSLA. Wealth Group Ltd. acquired a new position in Tesla in the fourth quarter valued at approximately $275,000. Comprehensive Financial Planning Inc. PA acquired a new position in Tesla in the fourth quarter valued at approximately $1,361,000. Tallon Kerry Patrick acquired a new position in Tesla in the fourth quarter valued at approximately $374,000. Eagle Capital Management LLC acquired a new position in Tesla in the fourth quarter valued at approximately $331,000. Finally, Brighton Jones LLC increased its stake in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after purchasing an additional 9,293 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total value of $32,096,336.20. Following the completion of the sale, the director now owns 85,000 shares in the company, valued at $24,274,300. The trade was a 56.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the chief financial officer now owns 1,950 shares of the company’s stock, valued at $682,500. This trade represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 815,945 shares of company stock worth $273,059,215 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Performance

NASDAQ TSLA opened at $295.14 on Monday. The firm has a 50-day moving average of $292.17 and a 200-day moving average of $333.51. 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 cap of $950.63 billion, a PE ratio of 144.68, a P/E/G 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.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the prior year, the business posted $0.45 EPS. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

TSLA has been the topic of several analyst reports. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Truist Financial set a $280.00 target price on shares of Tesla in a report on Tuesday, April 22nd. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and increased their target price for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the stock a “buy” rating in a report on Thursday, April 24th. Finally, Mizuho increased their target price on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $294.27.

Tesla Profile

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.