Dynasty Wealth Management LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Dynasty Wealth Management LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 12,012 shares of the electric vehicle producer’s stock, valued at approximately $3,113,000.

Several other large investors also recently modified their holdings of TSLA. Burns Matteson Capital Management LLC grew its position in Tesla by 31.1% during the 1st quarter. Burns Matteson Capital Management LLC now owns 2,131 shares of the electric vehicle producer’s stock worth $552,000 after acquiring an additional 506 shares during the last quarter. Verdence Capital Advisors LLC grew its position in Tesla by 3.9% during the 1st quarter. Verdence Capital Advisors LLC now owns 15,802 shares of the electric vehicle producer’s stock worth $4,095,000 after acquiring an additional 587 shares during the last quarter. Mayflower Financial Advisors LLC grew its position in Tesla by 7.7% during the 1st quarter. Mayflower Financial Advisors LLC now owns 5,729 shares of the electric vehicle producer’s stock worth $1,485,000 after acquiring an additional 409 shares during the last quarter. Hudock Inc. grew its position in Tesla by 39.1% during the 1st quarter. Hudock Inc. now owns 1,310 shares of the electric vehicle producer’s stock worth $340,000 after acquiring an additional 368 shares during the last quarter. Finally, Napatree Capital LLC grew its position in Tesla by 47.2% during the 1st quarter. Napatree Capital LLC now owns 1,045 shares of the electric vehicle producer’s stock worth $271,000 after acquiring an additional 335 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock worth $279,420,485 in the last three months. Insiders own 20.70% of the company’s stock.

Tesla Stock Performance

Shares of Tesla stock opened at $321.67 on Thursday. The company has a market capitalization of $1.04 trillion, a PE ratio of 176.74, a PEG ratio of 9.26 and a beta of 2.39. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock’s fifty day simple moving average is $324.95 and its 200 day simple moving average is $318.49.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the prior year, the firm posted $0.45 EPS. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. HSBC restated a “reduce” rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Robert W. Baird reiterated a “neutral” rating and issued a $320.00 price objective on shares of Tesla in a research report on Monday, June 9th. Raymond James Financial lowered Tesla to an “outperform” rating in a research report on Tuesday, April 22nd. Cantor Fitzgerald decreased their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, BNP Paribas set a $137.00 price objective on Tesla and gave the company an “underperform” rating in a research report on Wednesday, April 16th. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus price target of $300.19.

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.