Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 46.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,176 shares of the electric vehicle producer’s stock after acquiring an additional 1,630 shares during the period. Prosperity Consulting Group LLC’s holdings in Tesla were worth $910,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TSLA. Wyrmwood Management LLC purchased a new stake in Tesla in the 4th quarter worth approximately $25,000. Lam Group Inc. purchased a new stake in Tesla in the 4th quarter worth approximately $25,000. Mendota Financial Group LLC grew its stake in Tesla by 202.2% in the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after acquiring an additional 91 shares during the period. OLD Point Trust & Financial Services N A purchased a new stake in shares of Tesla during the 4th quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. grew its stake in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after buying an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TSLA. JPMorgan Chase & Co. lowered their price objective on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. Citigroup reaffirmed a “neutral” rating on shares of Tesla in a research report on Wednesday, June 12th. Royal Bank of Canada decreased their price target on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a research report on Thursday, June 20th. Oppenheimer reaffirmed a “market perform” rating on shares of Tesla in a research report on Tuesday. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $120.00 price target on shares of Tesla in a research report on Monday, July 1st. Seven research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $192.71.

Insider Buying and Selling

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

Tesla Price Performance

NASDAQ:TSLA traded up $5.13 during trading hours on Friday, reaching $251.52. 154,501,152 shares of the company’s stock were exchanged, compared to its average volume of 82,893,608. The company has a market capitalization of $802.15 billion, a P/E ratio of 64.16, a price-to-earnings-growth ratio of 6.11 and a beta of 2.31. Tesla, Inc. has a 12 month low of $138.80 and a 12 month 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 business’s 50-day simple moving average is $185.76 and its two-hundred day simple moving average is $191.70.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. Sell-side analysts expect that Tesla, Inc. will post 1.86 EPS for the current fiscal year.

Tesla Company Profile

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.