Golden State Wealth Management LLC Acquires 1,053 Shares of Tesla, Inc. (NASDAQ:TSLA)

Golden State Wealth Management LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 6.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,619 shares of the electric vehicle producer’s stock after purchasing an additional 1,053 shares during the quarter. Golden State Wealth Management LLC’s holdings in Tesla were worth $4,566,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC raised its holdings in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its holdings in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC bought a new stake in shares of Tesla in the fourth quarter valued at about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Tesla in the fourth quarter valued at about $38,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $313.56 on Friday. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company’s 50 day moving average is $320.36 and its 200 day moving average is $327.07. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.01 trillion, a PE ratio of 172.29, a price-to-earnings-growth ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the company posted $0.45 EPS. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,564 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $285.71, for a total value of $732,560.44. Following the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,692,546.04. This represents a 30.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director owned 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 833,509 shares of company stock worth $278,648,925. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on TSLA. Deutsche Bank Aktiengesellschaft decreased their price objective on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a report on Friday, March 28th. Oppenheimer reiterated a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and lifted their target price for the company from $180.00 to $388.00 in a research note on Friday, March 7th. The Goldman Sachs Group lifted their target price on Tesla from $285.00 to $315.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Baird R W lowered Tesla from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 9th. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Tesla currently has an average rating of “Hold” and an average price target of $301.24.

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.