Brogan Financial Inc. Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Brogan Financial Inc. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 193.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,732 shares of the electric vehicle producer's stock after acquiring an additional 1,142 shares during the quarter. Brogan Financial Inc.'s holdings in Tesla were worth $449,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC boosted its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank boosted its holdings in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC boosted its holdings in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in Tesla in the 1st quarter valued at about $27,000. Finally, True Wealth Design LLC lifted its holdings in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TSLA shares. Mizuho decreased their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Piper Sandler reaffirmed an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. The Goldman Sachs Group cut their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 target price on shares of Tesla in a research note on Monday, June 9th. Finally, Royal Bank Of Canada dropped their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tesla has a consensus rating of "Hold" and an average price target of $300.19.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director owned 85,000 shares of the company's stock, valued at $23,300,200. This trade represents a 56.94% 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 worth $279,420,485 in the last three months. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

Shares of TSLA stock traded up $10.24 during mid-day trading on Friday, hitting $329.65. The stock had a trading volume of 93,904,102 shares, compared to its average volume of 98,929,970. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The firm has a market cap of $1.06 trillion, a PE ratio of 181.13, a PEG ratio of 12.56 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The company's 50-day simple moving average is $326.27 and its 200-day simple moving average is $316.70.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to analysts' expectations 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 EPS. Sell-side analysts anticipate 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.