Finer Wealth Management Inc. Acquires 1,202 Shares of Tesla, Inc. (NASDAQ:TSLA)

Finer Wealth Management Inc. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 32.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,890 shares of the electric vehicle producer’s stock after acquiring an additional 1,202 shares during the quarter. Finer Wealth Management Inc.’s holdings in Tesla were worth $1,267,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in shares of Tesla by 322.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 26,590,525 shares of the electric vehicle producer’s stock valued at $6,891,201,000 after buying an additional 20,291,139 shares in the last quarter. Nuveen LLC purchased a new position in shares of Tesla during the 1st quarter valued at about $3,247,619,000. GAMMA Investing LLC raised its holdings in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer’s stock valued at $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Tesla by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 246,887,705 shares of the electric vehicle producer’s stock valued at $63,983,418,000 after buying an additional 3,694,524 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 2.8%

NASDAQ TSLA opened at $339.03 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a twelve month low of $194.67 and a twelve month high of $488.54. The firm has a market capitalization of $1.09 trillion, a PE ratio of 195.97, a P/E/G ratio of 11.46 and a beta of 2.33. The stock’s 50 day moving average is $318.61 and its 200 day moving average is $306.24.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. Research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the business’s stock in a transaction 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 directly owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 602,724 shares of company stock valued at $214,176,831. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TSLA. Robert W. Baird reaffirmed a “neutral” rating and issued a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Guggenheim reaffirmed a “sell” rating and issued a $175.00 price target on shares of Tesla in a research note on Wednesday, July 23rd. UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. BNP Paribas set a $137.00 price target on Tesla and gave the stock an “underperform” rating in a research note on Wednesday, April 16th. Finally, Canaccord Genuity Group lifted their price target on Tesla from $303.00 to $333.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Ten equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tesla presently has a consensus rating of “Hold” and an average target price of $303.31.

Tesla Company 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.