Walter & Keenan Wealth Management LLC IN ADV Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Walter & Keenan Wealth Management LLC IN ADV lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 92.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,217 shares of the electric vehicle producer’s stock after buying an additional 583 shares during the quarter. Walter & Keenan Wealth Management LLC IN ADV’s holdings in Tesla were worth $315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC purchased a new stake in Tesla in the fourth quarter worth about $56,600,000. Focus Financial Network Inc. lifted its position in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after purchasing an additional 670 shares during the period. Strategic Family Wealth Counselors L.L.C. lifted its position in Tesla by 133.7% during the fourth 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 purchasing an additional 1,629 shares during the period. Harvard Management Co. Inc. bought a new position in Tesla in the fourth quarter worth approximately $8,158,000. Finally, Blackston Financial Advisory Group LLC raised its position in Tesla by 40.4% in the first quarter. Blackston Financial Advisory Group LLC now owns 3,040 shares of the electric vehicle producer’s stock worth $788,000 after acquiring an additional 874 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 1.8%

NASDAQ:TSLA opened at $322.05 on Friday. Tesla, Inc. has a one year low of $179.66 and a one year high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The firm has a market cap of $1.04 trillion, a P/E ratio of 176.95, a P/E/G ratio of 12.04 and a beta of 2.47. The firm has a 50-day simple moving average of $304.81 and a 200-day simple moving average of $332.35.

Tesla (NASDAQ:TSLA) last posted its quarterly 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). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the firm posted $0.45 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on TSLA shares. Cantor Fitzgerald decreased their price target on shares of Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Benchmark reissued a “buy” rating and issued a $350.00 price objective on shares of Tesla in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their price objective on shares of Tesla from $135.00 to $130.00 and set an “underweight” rating for the company in a research note on Friday, March 14th. Mizuho raised their target price on shares of Tesla from $325.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Finally, Royal Bank Of Canada lowered their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $293.67.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. The trade was a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction of $4,857,150.00. Following the transaction, the senior vice president now owns 67,600 shares of the company’s stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is currently owned by corporate 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.