BluePointe Capital Management LLC Acquires 1,150 Shares of Tesla, Inc. (NASDAQ:TSLA)

BluePointe Capital Management LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 24.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,949 shares of the electric vehicle producer's stock after purchasing an additional 1,150 shares during the quarter. BluePointe Capital Management LLC's holdings in Tesla were worth $1,542,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TSLA. Cherry Tree Wealth Management LLC boosted its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank boosted its stake in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares in the last quarter. Newton One Investments LLC boosted its stake in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Tesla in the first quarter worth approximately $27,000. Finally, True Wealth Design LLC boosted its stake in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer owned 1,950 shares of the company's stock, valued at $664,989. The trade was a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on TSLA. The Goldman Sachs Group cut their target price on Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $303.00 target price on shares of Tesla in a research note on Monday, June 30th. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, Guggenheim reissued a "sell" rating and set a $175.00 price objective on shares of Tesla in a research note on Tuesday, July 8th. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $300.19.

Tesla Stock Up 3.5%

Tesla stock traded up $10.89 on Wednesday, hitting $321.67. 96,688,793 shares of the stock traded hands, compared to its average volume of 99,116,733. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.04 trillion, a P/E ratio of 176.74, a price-to-earnings-growth ratio of 9.26 and a beta of 2.39. The business's fifty day simple moving average is $324.95 and its 200 day simple moving average is $318.49. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the business posted $0.45 EPS. As a group, sell-side 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.