Market Street Wealth Management Advisors LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Market Street Wealth Management Advisors LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 57.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,857 shares of the electric vehicle producer’s stock after purchasing an additional 681 shares during the period. Market Street Wealth Management Advisors LLC’s holdings in Tesla were worth $481,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TSLA. Wealth Group Ltd. purchased a new position in Tesla during the fourth quarter worth $275,000. Tallon Kerry Patrick purchased a new position in Tesla during the fourth quarter worth $374,000. Eagle Capital Management LLC purchased a new position in Tesla during the fourth quarter worth $331,000. Brighton Jones LLC increased its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after buying an additional 9,293 shares in the last quarter. Finally, Revolve Wealth Partners LLC increased its position in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after buying an additional 931 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TSLA has been the topic of several analyst reports. Morgan Stanley restated an “overweight” rating and set a $410.00 price objective on shares of Tesla in a report on Friday, June 6th. Wells Fargo & Company decreased their price objective on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Roth Mkm decreased their price objective on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Oppenheimer restated a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Finally, BNP Paribas set a $137.00 price objective on Tesla and gave the stock an “underperform” rating in a report on Wednesday, April 16th. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $293.67.

Tesla Trading Down 3.8%

NASDAQ:TSLA opened at $316.73 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The stock has a market cap of $1.02 trillion, a price-to-earnings ratio of 174.03, a price-to-earnings-growth ratio of 12.36 and a beta of 2.47. Tesla, Inc. has a one year low of $179.66 and a one year high of $488.54. The business’s 50-day simple moving average is $302.42 and its 200 day simple moving average is $332.66.

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 the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the prior year, the firm earned $0.45 earnings per share. As a group, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total value of $32,096,336.20. Following the completion of the transaction, the director now directly owns 85,000 shares of the company’s stock, valued at $24,274,300. This represents a 56.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,950 shares of the company’s stock, valued at $682,500. This trade represents a 33.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock valued at $278,648,925 over the last three months. 20.70% of the stock is owned by 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.