Elevation Point Wealth Partners LLC Increases Stock Holdings in Tesla, Inc. $TSLA

Elevation Point Wealth Partners LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLAFree Report) by 205.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 48,502 shares of the electric vehicle producer’s stock after acquiring an additional 32,605 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Tesla were worth $18,031,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TSLA. Brighton Jones LLC raised its position in shares of Tesla by 11.8% in 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 during the last quarter. Revolve Wealth Partners LLC grew its position in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer’s stock worth $2,147,000 after purchasing an additional 931 shares during the last quarter. Bison Wealth LLC grew its position in Tesla by 52.2% during the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer’s stock worth $4,187,000 after purchasing an additional 3,558 shares during the last quarter. Sivia Capital Partners LLC increased its stake in Tesla by 9.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,135 shares of the electric vehicle producer’s stock valued at $3,855,000 after purchasing an additional 1,011 shares in the last quarter. Finally, AGP Franklin LLC raised its holdings in shares of Tesla by 21.2% in the second quarter. AGP Franklin LLC now owns 4,861 shares of the electric vehicle producer’s stock worth $1,544,000 after buying an additional 851 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

TSLA opened at $393.45 on Friday. The company has a fifty day moving average of $407.39 and a two-hundred day moving average of $411.79. The stock has a market capitalization of $1.48 trillion, a price-to-earnings ratio of 360.96, a PEG ratio of 15.61 and a beta of 1.80. Tesla, Inc. has a fifty-two week low of $288.77 and a fifty-two week high of $498.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.62 and a current ratio of 2.04.

Tesla (NASDAQ:TSLAGet Free Report) last posted its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Tesla had a return on equity of 4.89% and a net margin of 3.95%.The firm had revenue of $22.39 billion for the quarter, compared to analysts’ expectations of $22.96 billion. During the same period last year, the firm earned $0.27 EPS. The company’s quarterly revenue was up 15.8% on a year-over-year basis. On average, research analysts expect that Tesla, Inc. will post 1.2 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Kathleen Wilson-Thompson sold 26,409 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $378.11, for a total transaction of $9,985,506.99. Following the completion of the transaction, the director directly owned 48,399 shares of the company’s stock, valued at $18,300,145.89. This represents a 35.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the transaction, the chief financial officer owned 18,106 shares in the company, valued at $8,147,700. This trade represents a 14.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 32,015 shares of company stock worth $12,383,640 in the last quarter. 19.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TSLA. Evercore raised shares of Tesla from a “hold” rating to an “outperform” rating in a report on Friday, June 5th. HSBC restated a “hold” rating on shares of Tesla in a research note on Monday, June 15th. Citigroup reiterated a “neutral” rating on shares of Tesla in a research note on Tuesday, June 16th. Weiss Ratings reissued a “hold (c-)” rating on shares of Tesla in a report on Friday, April 24th. Finally, President Capital raised their price objective on Tesla from $424.00 to $428.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Twenty-one research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $403.92.

Get Our Latest Report on Tesla

Key Tesla News

Here are the key news stories impacting Tesla this week:

Tesla Profile

(Free Report)

Tesla, Inc (NASDAQ: TSLA) is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company’s stated mission is to accelerate the world’s transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla’s automotive business includes a lineup of battery‑electric vehicles and related services.

Read More

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLAFree Report).

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

Receive News & Ratings for Tesla Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tesla and related companies with MarketBeat.com's FREE daily email newsletter.