Prentice Wealth Management LLC Acquires 448 Shares of Tesla, Inc. (NASDAQ:TSLA)

Prentice Wealth Management LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 35.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,701 shares of the electric vehicle producer’s stock after purchasing an additional 448 shares during the period. Prentice Wealth Management LLC’s holdings in Tesla were worth $445,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Lakewood Asset Management LLC bought a new stake in Tesla during the 4th quarter worth approximately $25,000. Alpha Paradigm Partners LLC bought a new stake in Tesla during the 3rd quarter worth approximately $27,000. GW&K Investment Management LLC bought a new stake in Tesla during the 1st quarter worth approximately $30,000. MayTech Global Investments LLC bought a new stake in Tesla during the 4th quarter worth approximately $30,000. Finally, St. Johns Investment Management Company LLC increased its holdings in Tesla by 451.9% during the 1st quarter. St. Johns Investment Management Company LLC now owns 149 shares of the electric vehicle producer’s stock worth $31,000 after acquiring an additional 122 shares during the period. Institutional investors own 41.87% of the company’s stock.

Analyst Ratings Changes

TSLA has been the topic of a number of analyst reports. Robert W. Baird upped their target price on shares of Tesla from $252.00 to $300.00 and gave the stock an “outperform” rating in a report on Monday, July 17th. StockNews.com started coverage on shares of Tesla in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Sanford C. Bernstein reissued an “underperform” rating and issued a $150.00 price target on shares of Tesla in a research note on Thursday, July 20th. Wedbush boosted their price target on shares of Tesla from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, July 20th. Finally, The Goldman Sachs Group boosted their price target on shares of Tesla from $248.00 to $275.00 and gave the stock a “neutral” rating in a research note on Monday, July 3rd. Six equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus target price of $239.43.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $276.04 on Friday. The firm’s 50-day moving average price is $255.83 and its 200-day moving average price is $220.11. The company has a quick ratio of 1.07, a current ratio of 1.59 and a debt-to-equity ratio of 0.02. The company has a market cap of $876.15 billion, a PE ratio of 78.20, a PEG ratio of 4.23 and a beta of 2.09. Tesla, Inc. has a 52-week low of $101.81 and a 52-week high of $313.80.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Wednesday, July 19th. The electric vehicle producer reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.22. The company had revenue of $24.93 billion for the quarter, compared to the consensus estimate of $24.22 billion. Tesla had a net margin of 12.97% and a return on equity of 26.10%. The firm’s revenue was up 47.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.65 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 2.94 EPS for the current year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $276.35, for a total value of $690,875.00. Following the transaction, the senior vice president now owns 62,938 shares of the company’s stock, valued at $17,392,916.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tesla news, CFO Zachary Kirkhorn sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $278.70, for a total transaction of $1,045,125.00. Following the sale, the chief financial officer now owns 197,540 shares in the company, valued at approximately $55,054,398. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $276.35, for a total transaction of $690,875.00. Following the sale, the senior vice president now owns 62,938 shares in the company, valued at approximately $17,392,916.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,815 shares of company stock valued at $14,384,135. 25.10% of the stock is owned by insiders.

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. It 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, retail merchandise, and vehicle insurance services.