1,368 Shares in Tesla, Inc. (NASDAQ:TSLA) Acquired by Balance Wealth LLC

Balance Wealth LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,368 shares of the electric vehicle producer's stock, valued at approximately $355,000.

Other hedge funds also recently added to or reduced their stakes in the company. Global Assets Advisory LLC boosted its position in shares of Tesla by 291.5% during the first quarter. Global Assets Advisory LLC now owns 29,781 shares of the electric vehicle producer's stock worth $7,552,000 after buying an additional 22,174 shares during the period. Field & Main Bank raised its stake in shares of Tesla by 653.1% in the first quarter. Field & Main Bank now owns 2,297 shares of the electric vehicle producer's stock valued at $595,000 after acquiring an additional 1,992 shares in the last quarter. Archford Capital Strategies LLC raised its stake in shares of Tesla by 5.6% in the first quarter. Archford Capital Strategies LLC now owns 2,039 shares of the electric vehicle producer's stock valued at $528,000 after acquiring an additional 109 shares in the last quarter. Financial Enhancement Group LLC raised its stake in shares of Tesla by 7.3% in the first quarter. Financial Enhancement Group LLC now owns 1,788 shares of the electric vehicle producer's stock valued at $425,000 after acquiring an additional 121 shares in the last quarter. Finally, Strategic Investment Advisors MI raised its stake in shares of Tesla by 10.9% in the first quarter. Strategic Investment Advisors MI now owns 7,754 shares of the electric vehicle producer's stock valued at $2,010,000 after acquiring an additional 764 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,950 shares in the company, valued at approximately $682,500. This trade represents a 33.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president now owns 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

NASDAQ TSLA opened at $327.55 on Thursday. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The business's 50-day moving average price is $311.59 and its 200 day moving average price is $331.45. The firm has a market cap of $1.06 trillion, a P/E ratio of 179.97, a P/E/G ratio of 12.73 and a beta of 2.47. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the firm posted $0.45 EPS. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on TSLA shares. Benchmark reiterated a "buy" rating and issued a $350.00 price objective on shares of Tesla in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. cut their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley restated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Argus restated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Finally, Bank of America cut their price target on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $294.58.

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.

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