Evermay Wealth Management LLC Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

by · The Cerbat Gem

Evermay Wealth Management LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA – Free Report) by 121.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,441 shares of the electric vehicle producer’s stock after buying an additional 1,884 shares during the quarter. Evermay Wealth Management LLC’s holdings in Tesla were worth $892,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Eagle Capital Management LLC purchased a new position in shares of Tesla during the 4th quarter valued at approximately $331,000. Brighton Jones LLC increased its holdings in shares of Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock valued at $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock valued at $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in Tesla in the 4th quarter valued at $346,000. Finally, Highview Capital Management LLC DE acquired a new stake in Tesla in the 4th quarter valued at $2,367,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of TSLA opened at $316.06 on Monday. The company has a current ratio of 2.04, a quick ratio of 1.55 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.02 trillion, a PE ratio of 182.69, a price-to-earnings-growth ratio of 9.93 and a beta of 2.39. The company’s 50 day simple moving average is $324.70 and its 200-day simple moving average is $313.53. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA – Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business’s revenue was down 11.8% on a year-over-year basis. During the same quarter last year, the business posted $0.52 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock valued at $279,420,485 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of research analyst reports. Daiwa Capital Markets reissued a “neutral” rating on shares of Tesla in a research note on Sunday. Benchmark reissued a “buy” rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Roth Mkm dropped their price target on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. HSBC reissued a “reduce” rating and issued a $120.00 price target on shares of Tesla in a research note on Thursday, July 3rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $302.75.

Check Out Our Latest Stock Analysis on TSLA

Tesla Company Profile

(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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