Elevation Point Wealth Partners LLC Grows Stock Holdings in Tesla, Inc. $TSLA

Elevation Point Wealth Partners LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 205.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,502 shares of the electric vehicle producer’s stock after buying an additional 32,605 shares during the period. Elevation Point Wealth Partners LLC’s holdings in Tesla were worth $18,031,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Chapman Financial Group LLC purchased a new position in shares of Tesla during the second quarter valued at approximately $26,000. Networth Advisors LLC purchased a new stake in shares of Tesla in the fourth quarter worth approximately $26,000. Davidson Capital Management Inc. lifted its stake in shares of Tesla by 79.4% during the 4th quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer’s stock worth $27,000 after acquiring an additional 27 shares during the last quarter. Friedenthal Financial lifted its stake in shares of Tesla by 66.7% during the 1st quarter. Friedenthal Financial now owns 75 shares of the electric vehicle producer’s stock worth $28,000 after acquiring an additional 30 shares during the last quarter. Finally, Turning Point Benefit Group Inc. purchased a new position in Tesla during the 3rd quarter valued at $30,000. Institutional investors own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent analyst reports. Barclays reiterated a “neutral” rating on shares of Tesla in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Tesla in a research note on Tuesday. Erste Group Bank upgraded shares of Tesla from a “sell” rating to a “hold” rating in a report on Friday, June 5th. Mizuho decreased their price objective on shares of Tesla from $540.00 to $480.00 and set an “outperform” rating for the company in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. reissued a “neutral” rating on shares of Tesla in a research report on Wednesday, June 24th. Twenty-one equities research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $403.92.

View Our Latest Stock Analysis on TSLA

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the sale, the chief financial officer directly owned 18,106 shares in the company, valued at $8,147,700. This represents a 14.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kathleen Wilson-Thompson sold 26,409 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the sale, the director directly owned 48,399 shares in the company, valued at approximately $18,300,145.89. The trade was a 35.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 32,015 shares of company stock valued at $12,383,640. Corporate insiders own 19.90% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $393.45 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04. The company has a 50 day moving average price of $407.39 and a 200-day moving average price of $411.79. Tesla, Inc. has a fifty-two week low of $288.77 and a fifty-two week high of $498.83. The stock has a market capitalization of $1.48 trillion, a PE ratio of 360.96, a PEG ratio of 15.61 and a beta of 1.80.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $22.39 billion during the quarter, compared to analyst estimates of $22.96 billion. Tesla had a return on equity of 4.89% and a net margin of 3.95%.Tesla’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. Equities analysts predict that Tesla, Inc. will post 1.2 earnings per share for the current fiscal year.

Tesla News Roundup

Here are the key news stories impacting Tesla this week:

Tesla Company Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

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Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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