Choice Wealth Advisors LLC Buys 100 Shares of Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

Choice Wealth Advisors LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 2.8% during the first quarter, Holdings Channel.com reports. The fund owned 3,650 shares of the electric vehicle producer’s stock after purchasing an additional 100 shares during the quarter. Tesla makes up 0.5% of Choice Wealth Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Choice Wealth Advisors LLC’s holdings in Tesla were worth $946,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Tesla during the fourth quarter valued at approximately $14,420,248,000. FMR LLC boosted its stake in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director now owns 855,394 shares of the company’s stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares of the company’s stock, valued at $114,859,478.69. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 870,721 shares of company stock valued at $286,248,728 over the last 90 days. Insiders own 20.70% of the company’s stock.

Tesla Trading Down 14.3%

NASDAQ:TSLA opened at $284.68 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a fifty day simple moving average of $291.63 and a 200-day simple moving average of $333.97. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54. The company has a market capitalization of $916.94 billion, a P/E ratio of 139.55, a PEG ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA – Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. During the same period last year, the business earned $0.45 EPS. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Bank of America dropped their price objective on shares of Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Guggenheim reiterated a “sell” rating and set a $170.00 price objective on shares of Tesla in a research note on Thursday, April 24th. BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an “underperform” rating in a research note on Wednesday, April 16th. Canaccord Genuity Group lowered their target price on shares of Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Raymond James downgraded shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $293.97.

View Our Latest Report on TSLA

About Tesla

(Free Report)

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.

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