Cerity Partners LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Cerity Partners LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 403,012 shares of the electric vehicle producer's stock after buying an additional 9,258 shares during the period. Cerity Partners LLC's holdings in Tesla were worth $101,659,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Cherry Tree Wealth Management LLC boosted its holdings in shares of Tesla by 86.3% in the 1st 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 during the last quarter. First PREMIER Bank raised its position 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 acquiring an additional 42 shares during the period. 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 valued at $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla during the 1st quarter valued at approximately $27,000. Finally, True Wealth Design LLC increased its stake in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. Stifel Nicolaus set a $450.00 price target on Tesla and gave the company a "buy" rating in a research report on Thursday, April 24th. Wedbush reissued an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a report on Tuesday. Canaccord Genuity Group reaffirmed a "buy" rating and set a $303.00 price objective on shares of Tesla in a report on Monday, June 30th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $300.19.

Tesla Trading Up 1.2%

Shares of TSLA traded up $3.64 during mid-day trading on Friday, hitting $313.51. 78,861,329 shares of the company's stock traded hands, compared to its average volume of 99,821,915. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.01 trillion, a P/E ratio of 172.26, a PEG ratio of 9.22 and a beta of 2.39. The business's 50-day moving average price is $322.07 and its 200-day moving average price is $322.26. 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 issued its quarterly earnings data 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). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's 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 in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the sale, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. The trade was a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock valued at $279,420,485 over the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla 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.