M Holdings Securities Inc. Has $5.52 Million Stake in Tesla, Inc. $TSLA

M Holdings Securities Inc. decreased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,295 shares of the electric vehicle producer’s stock after selling 581 shares during the quarter. Tesla accounts for approximately 0.9% of M Holdings Securities Inc.’s investment portfolio, making the stock its 24th largest position. M Holdings Securities Inc.’s holdings in Tesla were worth $5,519,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. RWA Wealth Partners LLC boosted its stake in shares of Tesla by 50.5% during the first quarter. RWA Wealth Partners LLC now owns 19,266 shares of the electric vehicle producer’s stock valued at $4,993,000 after purchasing an additional 6,466 shares in the last quarter. Korea Investment CORP boosted its stake in shares of Tesla by 4.6% during the first quarter. Korea Investment CORP now owns 2,273,321 shares of the electric vehicle producer’s stock valued at $589,154,000 after purchasing an additional 99,315 shares in the last quarter. Watts Gwilliam & Co. LLC boosted its stake in shares of Tesla by 59.5% during the first quarter. Watts Gwilliam & Co. LLC now owns 21,798 shares of the electric vehicle producer’s stock valued at $5,649,000 after purchasing an additional 8,132 shares in the last quarter. Community Bank & Trust Waco Texas boosted its stake in shares of Tesla by 3.0% during the first quarter. Community Bank & Trust Waco Texas now owns 1,567 shares of the electric vehicle producer’s stock valued at $406,000 after purchasing an additional 45 shares in the last quarter. Finally, Granite Harbor Advisors Inc. acquired a new stake in shares of Tesla during the first quarter valued at about $211,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Trading Down 1.5%

Shares of TSLA stock opened at $330.56 on Monday. The company has a market capitalization of $1.07 trillion, a PE ratio of 191.08, a price-to-earnings-growth ratio of 11.49 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The business’s fifty day moving average is $320.41 and its 200 day moving average is $304.57. Tesla, Inc. has a 52-week low of $202.59 and a 52-week high of $488.54.

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

Insiders Place Their Bets

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction dated 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 directly owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 599,724 shares of company stock worth $213,126,501. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TSLA. Wedbush reaffirmed an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a research note on Monday, August 4th. Benchmark reaffirmed a “buy” rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of Tesla in a research note on Sunday. Piper Sandler reaffirmed an “overweight” rating and issued a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Finally, Canaccord Genuity Group boosted their price objective on Tesla from $303.00 to $333.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Tesla presently has a consensus rating of “Hold” and an average target price of $303.31.

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.