PFW Advisors LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

PFW Advisors LLC increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 34.6% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,763 shares of the electric vehicle producer’s stock after purchasing an additional 711 shares during the period. PFW Advisors LLC’s holdings in Tesla were worth $716,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC increased its position in shares of Tesla by 79.5% in the fourth 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 last quarter. Horrell Capital Management Inc. increased its position in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. increased its position in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC bought a new position in shares of Tesla in the fourth quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla during the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 1,000 shares of the business’s stock in a transaction dated 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 approximately $682,500. This trade represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 870,721 shares of company stock valued at $286,248,728 in the last quarter. 20.70% of the stock is owned by insiders.

Tesla Price Performance

TSLA opened at $295.14 on Friday. The stock has a 50-day moving average price of $292.17 and a 200-day moving average price of $333.56. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market cap of $950.63 billion, a PE ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the prior year, the firm earned $0.45 EPS. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on TSLA shares. Raymond James cut shares of Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Cfra Research cut shares of Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the company a “buy” rating in a research report on Thursday, April 24th. Guggenheim reiterated a “sell” rating and set a $170.00 price target on shares of Tesla in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $294.27.

About Tesla

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.