Tempus Wealth Planning LLC Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Tempus Wealth Planning LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,885 shares of the electric vehicle producer’s stock after acquiring an additional 951 shares during the period. Tempus Wealth Planning LLC’s holdings in Tesla were worth $1,210,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Tesla by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after acquiring an additional 3,866,361 shares during the period. Norges Bank purchased a new stake in shares of Tesla in the fourth quarter valued at approximately $7,844,757,000. Morgan Stanley raised its stake in shares of Tesla by 7.8% during the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after buying an additional 2,177,397 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Tesla by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock valued at $3,765,933,000 after acquiring an additional 458,804 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Tesla by 12.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock valued at $1,731,430,000 after purchasing an additional 1,125,329 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of several research reports. Citigroup restated a “neutral” rating on shares of Tesla in a research report on Wednesday, June 12th. TD Cowen boosted their price objective on shares of Tesla from $160.00 to $180.00 and gave the company a “hold” rating in a report on Wednesday. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $175.00 price objective on shares of Tesla in a research note on Wednesday. New Street Research reiterated a “buy” rating and set a $235.00 price target on shares of Tesla in a research note on Tuesday, June 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $230.00 price target on shares of Tesla in a research report on Monday. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $189.47.

Insider Activity

In other news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders own 20.90% of the company’s stock.

Tesla Trading Up 6.5 %

TSLA traded up $15.13 during trading on Thursday, hitting $246.39. 166,561,471 shares of the company’s stock were exchanged, compared to its average volume of 80,957,576. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The firm has a market cap of $785.79 billion, a P/E ratio of 62.85, a price-to-earnings-growth ratio of 5.74 and a beta of 2.31. The stock has a 50 day moving average price of $182.57 and a 200 day moving average price of $191.32. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29.

Tesla (NASDAQ:TSLA) last released its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The company had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. As a group, analysts expect that Tesla, Inc. will post 1.86 EPS for the current fiscal year.

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.