Challenger Wealth Management Purchases New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Challenger Wealth Management purchased a new position in shares of Tesla, Inc. (NASDAQ:TSLA) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 14,700 shares of the electric vehicle producer’s stock, valued at approximately $5,936,000. Tesla comprises about 5.1% of Challenger Wealth Management’s investment portfolio, making the stock its 4th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. True Wealth Design LLC raised its stake in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. increased its holdings in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. raised 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 during the 4th quarter valued at $37,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla during the fourth quarter worth $38,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 3,000 shares of the firm’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $350.11, for a total transaction of $1,050,330.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $9,435,464.50. This trade represents a 10.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This represents a 10.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 415,623 shares of company stock worth $116,650,831 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Tesla Trading Down 0.5%

NASDAQ TSLA opened at $339.34 on Friday. The company has a market cap of $1.09 trillion, a price-to-earnings ratio of 166.34, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The business’s fifty day moving average is $277.33 and its 200 day moving average is $333.00.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS 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 7.26% and a return on equity of 10.31%. During the same quarter in the prior year, the business posted $0.45 earnings per share. As a group, sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TSLA shares. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the company a “buy” rating in a research report on Thursday, April 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. HSBC reduced their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating for the company in a report on Thursday, March 27th. Roth Mkm decreased their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Finally, Wall Street Zen lowered shares of Tesla from a “hold” rating to a “sell” rating in a research report on Friday, January 31st. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $293.97.

Tesla Company 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.