Apollon Wealth Management LLC Purchases 3,281 Shares of Tesla, Inc. (NASDAQ:TSLA)

Apollon Wealth Management LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 87,084 shares of the electric vehicle producer's stock after buying an additional 3,281 shares during the quarter. Apollon Wealth Management LLC's holdings in Tesla were worth $22,569,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock worth $98,211,134,000 after purchasing an additional 3,571,793 shares during the period. Geode Capital Management LLC boosted its position in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. Norges Bank bought a new stake in Tesla during the fourth quarter worth approximately $14,420,248,000. FMR LLC boosted its position in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. Finally, Northern Trust Corp boosted its position in shares of Tesla by 21.6% in the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TSLA shares. HSBC reissued a "reduce" rating and issued a $120.00 price objective on shares of Tesla in a research report on Thursday, July 3rd. Morgan Stanley reissued an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research report on Friday, June 6th. JPMorgan Chase & Co. reduced their price objective on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. UBS Group set a $290.00 price objective on Tesla in a research report on Monday, June 30th. Finally, Baird R W cut Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus target price of $300.19.

Insiders Place Their Bets

In related news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock valued at $279,420,485 in the last quarter. 20.70% of the stock is owned by company insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA opened at $313.51 on Monday. The company has a market capitalization of $1.01 trillion, a price-to-earnings ratio of 172.26, a P/E/G ratio of 9.33 and a beta of 2.39. The firm's 50 day simple moving average is $322.60 and its 200 day simple moving average is $319.32. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the prior year, the business earned $0.45 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current 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.

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