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

Edgestream Partners L.P. increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 43.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,107 shares of the electric vehicle producer's stock after buying 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.

Several other large investors have also bought and sold shares of TSLA. Private Capital Advisors Inc. grew its holdings in shares of Tesla by 81.0% during the first quarter. Private Capital Advisors Inc. now owns 3,018 shares of the electric vehicle producer's stock worth $782,000 after purchasing an additional 1,351 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. boosted its position in Tesla by 0.6% during the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 12,623 shares of the electric vehicle producer's stock worth $3,271,000 after buying an additional 79 shares during the period. UNICOM Systems Inc. grew its holdings in Tesla by 60.5% during the 1st quarter. UNICOM Systems Inc. now owns 345,895 shares of the electric vehicle producer's stock worth $89,642,000 after acquiring an additional 130,395 shares during the last quarter. Florida Financial Advisors LLC increased its position in Tesla by 1.6% in the 1st quarter. Florida Financial Advisors LLC now owns 5,367 shares of the electric vehicle producer's stock valued at $1,390,000 after acquiring an additional 85 shares during the period. Finally, Bleakley Financial Group LLC raised its stake in shares of Tesla by 33.5% during the first quarter. Bleakley Financial Group LLC now owns 97,971 shares of the electric vehicle producer's stock valued at $25,390,000 after acquiring an additional 24,597 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction on 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 transaction, the director directly owned 85,000 shares of the company's stock, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of the 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 sale, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock valued at $279,420,485 in the last 90 days. 20.70% of the stock is owned by insiders.

Tesla Stock Up 3.2%

Shares of TSLA traded up $10.24 during trading hours on Friday, hitting $329.65. The company had a trading volume of 93,904,102 shares, compared to its average volume of 98,929,970. The firm has a fifty day moving average price of $326.27 and a 200-day moving average price of $316.70. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 181.13, a P/E/G ratio of 12.56 and a beta of 2.39. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

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). 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 business earned $0.45 EPS. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Robert W. Baird reissued a "neutral" rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Barclays cut their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Wedbush restated an "outperform" rating and set a $500.00 target price on shares of Tesla in a research report on Tuesday, July 8th. Finally, Truist Financial set a $280.00 target price on Tesla in a report on Tuesday, April 22nd. 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 given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $300.19.

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.