Alps Advisors Inc. Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Alps Advisors Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 13.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,169 shares of the electric vehicle producer's stock after buying an additional 2,379 shares during the quarter. Alps Advisors Inc.'s holdings in Tesla were worth $5,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new position in shares of Tesla in the fourth quarter valued at $56,600,000. Means Investment CO. Inc. grew its position in shares of Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after purchasing an additional 6,323 shares in the last quarter. Focus Financial Network Inc. grew its position in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares in the last quarter. IFM Investors Pty Ltd grew its position in shares of Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after purchasing an additional 46,087 shares in the last quarter. Finally, Harvard Management Co. Inc. purchased a new position in shares of Tesla in the fourth quarter valued at $8,158,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The sale 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 the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSLA. Barclays reduced their price target on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. The Goldman Sachs Group reduced their target price on Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research report on Friday. Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Wells Fargo & Company reduced their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Finally, Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tesla has a consensus rating of "Hold" and an average target price of $300.19.

Tesla Trading Up 1.2%

NASDAQ TSLA opened at $313.51 on Friday. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. 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 50 day simple moving average of $322.60 and a two-hundred day simple moving average of $321.24. The stock has a market cap of $1.01 trillion, a P/E ratio of 172.26, a price-to-earnings-growth ratio of 9.22 and a beta of 2.39.

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

Tesla Company 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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