Echo45 Advisors LLC Has $578,000 Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Echo45 Advisors LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 79.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,229 shares of the electric vehicle producer's stock after acquiring an additional 989 shares during the period. Tesla comprises about 0.4% of Echo45 Advisors LLC's holdings, making the stock its 29th largest holding. Echo45 Advisors LLC's holdings in Tesla were worth $578,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Tesla during the 4th quarter worth about $56,600,000. Focus Financial Network Inc. raised its stake in shares of Tesla by 3.1% during the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after purchasing an additional 670 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. raised its stake in shares of Tesla by 133.7% during the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock worth $1,150,000 after purchasing an additional 1,629 shares in the last quarter. Harvard Management Co. Inc. purchased a new stake in shares of Tesla during the 4th quarter worth about $8,158,000. Finally, Vontobel Holding Ltd. raised its stake in shares of Tesla by 23.0% during the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after purchasing an additional 60,342 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Tesla Price Performance

Tesla stock traded down $7.32 on Thursday, reaching $319.11. The company's stock had a trading volume of 104,392,972 shares, compared to its average volume of 100,720,943. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The company has a market cap of $1.03 trillion, a price-to-earnings ratio of 156.43, a PEG ratio of 5.86 and a beta of 2.47. The business's fifty day moving average price is $295.60 and its 200 day moving average price is $333.11. Tesla, Inc. has a twelve month low of $176.92 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the prior year, the firm posted $0.45 EPS. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tesla news, Director Joseph Gebbia acquired 4,000 shares of Tesla stock in a transaction on Thursday, April 24th. The shares were bought at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the purchase, the director now owns 4,111 shares in the company, valued at $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director now directly owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 818,509 shares of company stock valued at $273,791,775. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent research reports. Wells Fargo & Company cut their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Royal Bank of Canada decreased their target price on Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Truist Financial set a $280.00 price target on shares of Tesla in a research report on Tuesday, April 22nd. Argus reaffirmed a "hold" rating on shares of Tesla in a research report on Monday. Finally, Oppenheimer reiterated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Ten investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus price target of $293.67.

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.