Simplicity Wealth LLC Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Simplicity Wealth LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 66.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,349 shares of the electric vehicle producer’s stock after buying an additional 12,131 shares during the quarter. Simplicity Wealth LLC’s holdings in Tesla were worth $7,865,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC grew its stake in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. grew its stake in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. grew its stake in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares during the period. Navigoe LLC acquired a new stake in Tesla in the 4th quarter valued at $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla in the 4th quarter valued at $38,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Trading Up 4.6%

Shares of TSLA 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. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The stock has a fifty day moving average of $292.68 and a two-hundred day moving average of $333.20. The firm 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 (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 the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the company earned $0.45 EPS. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director now owns 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,564 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now owns 5,924 shares of the company’s stock, valued at $1,692,546.04. This represents a 30.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 818,509 shares of company stock valued at $273,791,775. Company insiders own 20.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TSLA. Guggenheim reaffirmed a “sell” rating and set a $170.00 target price on shares of Tesla in a research note on Thursday, April 24th. Benchmark reissued a “buy” rating and set a $350.00 price objective on shares of Tesla in a research report on Wednesday, April 23rd. Piper Sandler set a $400.00 price target on Tesla in a report on Tuesday, May 6th. The Goldman Sachs Group cut their price target on Tesla from $295.00 to $285.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Morgan Stanley reissued an “overweight” rating and issued a $410.00 target price on shares of Tesla in a report on Friday. Ten research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $293.67.

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.