RBA Wealth Management LLC Has $668,000 Stake in Tesla, Inc. (NASDAQ:TSLA)

by · The Markets Daily

RBA Wealth Management LLC lowered its position in Tesla, Inc. (NASDAQ:TSLA – Free Report) by 21.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,579 shares of the electric vehicle producer’s stock after selling 692 shares during the period. RBA Wealth Management LLC’s holdings in Tesla were worth $668,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC bought a new stake in Tesla during the fourth quarter worth approximately $56,600,000. Means Investment CO. Inc. boosted its holdings in shares of Tesla by 37.7% during the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer’s stock worth $5,984,000 after buying an additional 6,323 shares during the period. Focus Financial Network Inc. grew its stake in Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after buying an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. raised its holdings in Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after acquiring an additional 1,629 shares during the period. Finally, Harvard Management Co. Inc. acquired a new position in Tesla during the 4th quarter worth $8,158,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 0.7%

Shares of NASDAQ:TSLA opened at $323.63 on Monday. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The firm has a market cap of $1.04 trillion, a P/E ratio of 177.82, a P/E/G ratio of 12.20 and a beta of 2.47. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $314.93 and its two-hundred day moving average price is $329.21.

Tesla (NASDAQ:TSLA – Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the company earned $0.45 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. The trade was a 12.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director now directly owns 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 833,509 shares of company stock worth $278,648,925. Insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on TSLA shares. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a “buy” rating in a report on Thursday, April 24th. Morgan Stanley restated an “overweight” rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Finally, Baird R W lowered shares of Tesla from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 9th. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $298.37.

View Our Latest Stock Analysis on Tesla

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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