Certuity LLC Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Certuity LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,876 shares of the electric vehicle producer's stock after buying an additional 835 shares during the period. Certuity LLC's holdings in Tesla were worth $5,428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. True Wealth Design LLC boosted 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 period. Navigoe LLC purchased a new position in shares of Tesla during the 4th quarter worth about $37,000. Cherry Tree Wealth Management LLC boosted its stake in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank boosted its stake in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the period. Finally, Marshall & Sterling Wealth Advisors Inc. purchased a new position in shares of Tesla during the 4th quarter worth about $39,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $339.38 on Thursday. The company's fifty day moving average price is $318.69 and its 200 day moving average price is $306.71. Tesla, Inc. has a 1 year low of $198.75 and a 1 year high of $488.54. The company has a market capitalization of $1.09 trillion, a PE ratio of 196.17, a price-to-earnings-growth ratio of 11.85 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same period last year, the company posted $0.52 earnings per share. The business's quarterly revenue was down 11.8% on a year-over-year basis. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSLA. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research note on Thursday, July 24th. Mizuho lowered their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Argus reissued a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Wedbush reissued an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research report on Monday, August 4th. Finally, The Goldman Sachs Group lowered their price objective on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating for the company in a research report on Friday, July 11th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $303.31.

Insider Activity

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were 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 approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction 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 transaction, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 602,724 shares of company stock valued at $214,176,831. 20.70% of the stock is currently owned by corporate insiders.

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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