Bright Futures Wealth Management LLC. Buys New Holdings in Tesla, Inc. (NASDAQ:TSLA)

Bright Futures Wealth Management LLC. purchased a new stake in Tesla, Inc. (NASDAQ:TSLA) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,288 shares of the electric vehicle producer’s stock, valued at approximately $402,000.

A number of other hedge funds also recently made changes to their positions in TSLA. Apexium Financial LP grew its stake in shares of Tesla by 736.8% during the fourth quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock worth $6,201,000 after purchasing an additional 21,972 shares during the period. Mount Vernon Associates Inc. MD increased its stake in Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock valued at $1,724,000 after purchasing an additional 350 shares in the last quarter. Forum Financial Management LP raised its holdings in Tesla by 19.7% in the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock worth $5,410,000 after purchasing an additional 3,582 shares during the period. J.W. Cole Advisors Inc. boosted its position in shares of Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after purchasing an additional 6,615 shares in the last quarter. Finally, Catalyst Financial Partners LLC grew its holdings in shares of Tesla by 9.4% in the 4th quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock valued at $1,734,000 after buying an additional 598 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TSLA. KGI Securities reaffirmed a “neutral” rating and set a $236.00 price target on shares of Tesla in a research note on Thursday, July 25th. Citigroup dropped their target price on Tesla from $274.00 to $258.00 and set a “neutral” rating on the stock in a report on Wednesday, July 24th. China Renaissance upgraded Tesla from a “hold” rating to a “buy” rating and set a $290.00 price objective on the stock in a research note on Friday, July 5th. New Street Research downgraded shares of Tesla from a “buy” rating to a “neutral” rating and set a $225.00 target price on the stock. in a report on Wednesday, July 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a research note on Wednesday, July 24th. Nine equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $204.30.

Tesla Trading Down 4.2 %

NASDAQ TSLA traded down $9.19 on Friday, reaching $207.67. The company had a trading volume of 82,880,120 shares, compared to its average volume of 126,158,848. The firm has a market cap of $663.43 billion, a price-to-earnings ratio of 52.98, a P/E/G ratio of 5.60 and a beta of 2.31. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $278.98. The business has a 50 day moving average of $210.01 and a two-hundred day moving average of $190.87. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.91 and a quick ratio of 1.40.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, July 23rd. The electric vehicle producer reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.10). Tesla had a return on equity of 10.41% and a net margin of 13.00%. The company had revenue of $25.50 billion during the quarter, compared to analyst estimates of $24.38 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. Tesla’s revenue was up 2.3% compared to the same quarter last year. Analysts forecast that Tesla, Inc. will post 1.79 EPS for the current year.

Insiders Place Their Bets

In related news, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the firm’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 value of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 93,705 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $2,772,900. The disclosure for this sale can be found here. In the last ninety days, insiders sold 160,719 shares of company stock worth $32,032,968. Company insiders own 25.10% of the company’s stock.

Tesla 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.