4,010 Shares in Tesla, Inc. (NASDAQ:TSLA) Bought by AGP Franklin LLC

Key Points

• AGP Franklin LLC has acquired a new stake in Tesla, purchasing 4,010 shares valued at approximately $1,019,000 during the 1st quarter.
• Tesla reported $0.40 EPS for the quarter, missing analysts' expectations, with revenue of $22.50 billion, down 11.8% year-over-year.
• Insiders have sold a total of 835,509 shares of Tesla stock valued at $279,420,485 in the last three months, indicating a significant shift in ownership.

AGP Franklin LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 4,010 shares of the electric vehicle producer's stock, valued at approximately $1,019,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Solidarity Wealth LLC increased its position in Tesla by 6.3% during the 1st quarter. Solidarity Wealth LLC now owns 1,427 shares of the electric vehicle producer's stock worth $370,000 after purchasing an additional 84 shares during the period. Norden Group LLC increased its position in Tesla by 25.2% during the 1st quarter. Norden Group LLC now owns 19,181 shares of the electric vehicle producer's stock worth $4,971,000 after purchasing an additional 3,866 shares during the period. Abbot Financial Management Inc. increased its position in Tesla by 9.6% during the 1st quarter. Abbot Financial Management Inc. now owns 3,120 shares of the electric vehicle producer's stock worth $809,000 after purchasing an additional 272 shares during the period. Woodard & Co. Asset Management Group Inc. ADV boosted its stake in shares of Tesla by 4.4% during the 1st quarter. Woodard & Co. Asset Management Group Inc. ADV now owns 1,774 shares of the electric vehicle producer's stock worth $460,000 after acquiring an additional 74 shares in the last quarter. Finally, Vantage Financial Partners LLC lifted its stake in shares of Tesla by 112.7% during the 1st quarter. Vantage Financial Partners LLC now owns 6,595 shares of the electric vehicle producer's stock worth $1,709,000 after purchasing an additional 3,494 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent analyst reports. UBS Group set a $290.00 price target on Tesla in a research note on Monday, June 30th. Roth Mkm cut their target price on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Royal Bank Of Canada reaffirmed an "overweight" rating on shares of Tesla in a research report on Tuesday. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Finally, Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $303.31.

Insider Activity

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the transaction, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 719,119 shares of company stock worth $246,186,549. 20.70% of the stock is owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ TSLA traded down $9.32 during trading on Thursday, hitting $309.72. The company had a trading volume of 59,272,081 shares, compared to its average volume of 107,835,406. The company has a market cap of $998.97 billion, a P/E ratio of 178.69, a PEG ratio of 11.28 and a beta of 2.39. 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 is $323.61 and its 200 day moving average is $313.14. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period in the prior year, the company posted $0.52 EPS. Tesla's quarterly revenue was down 11.8% on a year-over-year basis. Equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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. 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.