Selective Wealth Management Inc. Acquires 582 Shares of Tesla, Inc. (NASDAQ:TSLA)

Selective Wealth Management Inc. raised its stake in Tesla, Inc. (NASDAQ:TSLA) by 71.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,401 shares of the electric vehicle producer’s stock after purchasing an additional 582 shares during the quarter. Selective Wealth Management Inc.’s holdings in Tesla were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. True Wealth Design LLC lifted its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its holdings in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. lifted its position in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC purchased a new position in Tesla during the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla in the 4th quarter worth about $38,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. TD Cowen upgraded shares of Tesla from a “hold” rating to a “buy” rating and increased their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Bank of America decreased their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Argus set a $410.00 price objective on Tesla in a research note on Thursday, April 24th. Truist Financial set a $280.00 target price on Tesla in a research report on Tuesday, April 22nd. Finally, Roth Mkm cut their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $294.27.

Tesla Trading Up 3.7%

Shares of Tesla stock opened at $295.14 on Monday. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The company has a market cap of $950.63 billion, a price-to-earnings ratio of 144.68, a PEG ratio of 5.86 and a beta of 2.47. The company’s 50-day moving average price is $292.17 and its 200-day moving average price is $333.51.

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

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 815,945 shares of company stock worth $273,059,215 over the last ninety days. 20.70% of the stock is owned by corporate insiders.

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.