Manning & Napier Advisors LLC Purchases Shares of 1,791 Tesla, Inc. (NASDAQ:TSLA)

Manning & Napier Advisors LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,791 shares of the electric vehicle producer's stock, valued at approximately $464,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Consolidated Investment Group LLC acquired a new stake in shares of Tesla in the first quarter valued at approximately $985,000. Center for Financial Planning Inc. lifted its stake in Tesla by 1.5% in the 1st quarter. Center for Financial Planning Inc. now owns 3,074 shares of the electric vehicle producer's stock valued at $797,000 after buying an additional 46 shares in the last quarter. Crews Bank & Trust grew its holdings in Tesla by 42.9% during the 1st quarter. Crews Bank & Trust now owns 323 shares of the electric vehicle producer's stock valued at $84,000 after buying an additional 97 shares during the last quarter. Heartland Bank & Trust Co increased its position in Tesla by 17.0% during the first quarter. Heartland Bank & Trust Co now owns 7,352 shares of the electric vehicle producer's stock worth $1,905,000 after buying an additional 1,066 shares in the last quarter. Finally, Cyr Financial Inc. raised its holdings in shares of Tesla by 28.8% in the first quarter. Cyr Financial Inc. now owns 1,892 shares of the electric vehicle producer's stock worth $490,000 after acquiring an additional 423 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now owns 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% 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, Director Joseph Gebbia bought 4,000 shares of Tesla stock in a transaction on Thursday, April 24th. The shares were purchased at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the purchase, the director now directly owns 4,111 shares in the company, valued at $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 833,509 shares of company stock valued at $278,648,925. Insiders own 20.70% of the company's stock.

Tesla Stock Performance

Shares of Tesla stock traded down $2.15 during trading hours on Friday, reaching $323.63. The company's stock had a trading volume of 88,595,289 shares, compared to its average volume of 101,831,106. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The company's 50 day simple moving average is $313.28 and its 200 day simple moving average is $331.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The stock has a market cap of $1.04 trillion, a P/E ratio of 177.82, a price-to-earnings-growth ratio of 12.25 and a beta of 2.47.

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

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent research reports. Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Wells Fargo & Company lowered their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Roth Mkm reduced their price objective on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Wedbush reiterated an "outperform" rating and set a $500.00 target price on shares of Tesla in a research report on Friday, June 20th. Finally, TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and lifted their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $298.37.

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.