Edgestream Partners L.P. Buys 4,242 Shares of Tesla, Inc. (NASDAQ:TSLA)

Edgestream Partners L.P. boosted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 43.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,107 shares of the electric vehicle producer's stock after purchasing an additional 4,242 shares during the quarter. Edgestream Partners L.P.'s holdings in Tesla were worth $3,656,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. True Wealth Design LLC grew its holdings in shares of Tesla by 79.5% during the fourth 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. Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the last quarter. GS Investments Inc. grew its holdings in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC bought a new stake in shares of Tesla during the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Tesla during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Trading Down 0.7%

Tesla stock traded down $2.26 during trading hours on Thursday, reaching $319.41. The company had a trading volume of 73,650,109 shares, compared to its average volume of 98,950,303. 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 has a 50-day moving average price of $324.95 and a 200 day moving average price of $318.49. The firm has a market cap of $1.03 trillion, a price-to-earnings ratio of 175.50, a P/E/G ratio of 9.80 and a beta of 2.39. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (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 business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period last year, the firm posted $0.45 earnings per share. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. HSBC reaffirmed a "reduce" rating and set a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. Guggenheim reaffirmed a "sell" rating and set a $175.00 target price on shares of Tesla in a research report on Tuesday, July 8th. William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Finally, Truist Financial set a $280.00 target price on Tesla in a research report on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $300.19.

Insiders Place Their Bets

In related news, 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 transaction of $2,046,120.00. Following the completion of the sale, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director owned 85,000 shares of the company's stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by company insiders.

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.