Mattern Wealth Management LLC Has $229,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

Mattern Wealth Management LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 884 shares of the electric vehicle producer’s stock after purchasing an additional 127 shares during the period. Mattern Wealth Management LLC’s holdings in Tesla were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC acquired a new position in Tesla in the 4th quarter valued at $56,600,000. Means Investment CO. Inc. raised its holdings in Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock valued at $5,984,000 after acquiring an additional 6,323 shares in the last quarter. Focus Financial Network Inc. raised its holdings in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after acquiring an additional 670 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. raised its holdings in Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after acquiring an additional 1,629 shares in the last quarter. Finally, Harvard Management Co. Inc. acquired a new position in Tesla in the 4th quarter valued at $8,158,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TSLA. Wedbush reaffirmed an “outperform” rating and issued a $500.00 price objective on shares of Tesla in a report on Friday, June 20th. TD Cowen raised Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $388.00 in a report on Friday, March 7th. BNP Paribas set a $137.00 price objective on Tesla and gave the company an “underperform” rating in a report on Wednesday, April 16th. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, Bank of America decreased their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $294.58.

Tesla Stock Down 3.8%

Shares of NASDAQ:TSLA opened at $327.55 on Thursday. The company has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 179.97, a P/E/G ratio of 12.73 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The business’s 50-day moving average is $311.59 and its 200-day moving average is $331.45. Tesla, Inc. has a 1 year low of $182.00 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 for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the company posted $0.45 earnings per share. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Joseph Gebbia acquired 4,000 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was purchased at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the acquisition, the director now owns 4,111 shares of the company’s stock, valued at approximately $1,053,690.41. This trade represents a 3,603.60% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president now directly owns 67,600 shares of the company’s stock, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is owned by company 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.