Activest Wealth Management Purchases 660 Shares of Tesla, Inc. (NASDAQ:TSLA)

Activest Wealth Management lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 54.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,878 shares of the electric vehicle producer’s stock after acquiring an additional 660 shares during the period. Activest Wealth Management’s holdings in Tesla were worth $330,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. WealthPlan Investment Management LLC boosted its stake in Tesla by 20,641.9% during the 3rd quarter. WealthPlan Investment Management LLC now owns 12,860 shares of the electric vehicle producer’s stock valued at $3,218,000 after purchasing an additional 12,798 shares during the last quarter. Pittenger & Anderson Inc. boosted its stake in Tesla by 4.6% during the 3rd quarter. Pittenger & Anderson Inc. now owns 3,021 shares of the electric vehicle producer’s stock valued at $756,000 after purchasing an additional 134 shares during the last quarter. Venturi Wealth Management LLC purchased a new stake in Tesla during the 3rd quarter valued at $1,455,000. Palisades Hudson Asset Management L.P. boosted its stake in Tesla by 27.1% during the 3rd quarter. Palisades Hudson Asset Management L.P. now owns 1,272 shares of the electric vehicle producer’s stock valued at $318,000 after purchasing an additional 271 shares during the last quarter. Finally, Your Advocates Ltd. LLP boosted its stake in Tesla by 3.8% during the 3rd quarter. Your Advocates Ltd. LLP now owns 2,708 shares of the electric vehicle producer’s stock valued at $678,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Jefferies Financial Group lowered their price target on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a report on Wednesday, April 10th. Piper Sandler reissued an “overweight” rating and set a $205.00 price target on shares of Tesla in a report on Monday, April 22nd. Guggenheim reissued a “sell” rating and set a $122.00 price target on shares of Tesla in a report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft increased their price target on Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Finally, HSBC lowered their price target on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a report on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $185.90.

Insider Buying and Selling at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at $2,631,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $175.44, for a total transaction of $16,439,605.20. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,631,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of Tesla stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $204.17, for a total transaction of $2,143,785.00. Following the sale, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at approximately $6,376,229.10. The disclosure for this sale can be found here. Insiders sold 302,803 shares of company stock worth $56,124,840 over the last 90 days. Company insiders own 25.10% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock traded up $11.65 during trading on Tuesday, reaching $186.60. 114,814,201 shares of the stock traded hands, compared to its average volume of 101,304,000. The company has a market capitalization of $595.10 billion, a price-to-earnings ratio of 47.60, a P/E/G ratio of 4.89 and a beta of 2.41. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17. The business has a fifty day simple moving average of $170.94 and a two-hundred day simple moving average of $201.90.

Tesla (NASDAQ:TSLA) last released its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Sell-side analysts expect that Tesla, Inc. will post 1.89 EPS for the current year.

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.