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

Tempus Wealth Planning LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,885 shares of the electric vehicle producer’s stock after buying an additional 951 shares during the quarter. 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. grew its position in Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock valued at $57,102,287,000 after acquiring an additional 3,866,361 shares during the last quarter. Norges Bank bought a new position in shares of Tesla during the 4th quarter valued at $7,844,757,000. Morgan Stanley raised its position in Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock worth $7,546,823,000 after purchasing an additional 2,177,397 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Tesla by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after purchasing an additional 458,804 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Tesla by 12.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 9,849,425 shares of the electric vehicle producer’s stock worth $1,731,430,000 after buying an additional 1,125,329 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TSLA shares. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research note on Thursday, April 25th. Wedbush increased their price target on shares of Tesla from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday. New Street Research reaffirmed a “buy” rating and set a $235.00 price objective on shares of Tesla in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada reduced their target price on Tesla from $293.00 to $227.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus price target of $189.47.

Tesla Trading Up 6.5 %

Tesla stock traded up $15.13 during midday trading on Thursday, reaching $246.39. The stock had a trading volume of 166,561,471 shares, compared to its average volume of 80,957,576. The company has a fifty day moving average of $182.57 and a 200 day moving average of $191.32. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The firm has a market cap of $785.79 billion, a price-to-earnings ratio of 62.85, a price-to-earnings-growth ratio of 5.74 and a beta of 2.31.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The company had revenue of $21.30 billion for the quarter, compared to the consensus estimate of $22.15 billion. On average, analysts anticipate that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

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.