Beaird Harris Wealth Management LLC Raises Position in Tesla, Inc. $TSLA

Beaird Harris Wealth Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,441 shares of the electric vehicle producer’s stock after buying an additional 236 shares during the period. Tesla comprises approximately 0.6% of Beaird Harris Wealth Management LLC’s portfolio, making the stock its 27th largest position. Beaird Harris Wealth Management LLC’s holdings in Tesla were worth $6,852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock worth $6,891,201,000 after acquiring an additional 20,291,139 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Tesla during the first quarter valued at approximately $3,247,619,000. GAMMA Investing LLC grew its holdings in shares of Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the last quarter. Amundi increased its stake in shares of Tesla by 29.4% in the first quarter. Amundi now owns 16,771,882 shares of the electric vehicle producer’s stock worth $4,482,789,000 after buying an additional 3,814,610 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Tesla by 1.5% in the first quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after acquiring an additional 3,694,524 shares during the period. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. China Renaissance reissued a “hold” rating and issued a $349.00 target price on shares of Tesla in a research note on Friday, July 25th. The Goldman Sachs Group reiterated a “neutral” rating on shares of Tesla in a research report on Sunday, August 17th. HSBC reissued a “reduce” rating and set a $120.00 target price on shares of Tesla in a research note on Thursday, July 3rd. UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. Finally, Guggenheim reissued a “sell” rating and set a $175.00 price objective on shares of Tesla in a research report on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, fifteen have assigned a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $303.31.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares of the company’s stock, valued at approximately $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares of the company’s stock, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 143,564 shares of company stock valued at $49,396,070. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of TSLA opened at $329.36 on Wednesday. Tesla, Inc. has a fifty-two week low of $209.64 and a fifty-two week high of $488.54. The firm’s 50-day simple moving average is $323.07 and its two-hundred day simple moving average is $302.58. The stock has a market cap of $1.06 trillion, a PE ratio of 190.38, a price-to-earnings-growth ratio of 11.61 and a beta of 2.06. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%.The business’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 earnings per share. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.