Financial Advisory Corp Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Financial Advisory Corp lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 127.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,797 shares of the electric vehicle producer's stock after acquiring an additional 1,006 shares during the quarter. Tesla accounts for approximately 0.1% of Financial Advisory Corp's investment portfolio, making the stock its 28th biggest holding. Financial Advisory Corp's holdings in Tesla were worth $466,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Wealth Group Ltd. purchased a new position in Tesla in the 4th quarter valued at approximately $275,000. Comprehensive Financial Planning Inc. PA acquired a new position in Tesla in the fourth quarter valued at $1,361,000. Tallon Kerry Patrick acquired a new position in Tesla in the fourth quarter valued at $374,000. Eagle Capital Management LLC acquired a new position in shares of Tesla during the fourth quarter worth about $331,000. Finally, Brighton Jones LLC increased its stake in shares of Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Vaibhav Taneja sold 1,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,950 shares of the company's stock, valued at approximately $682,500. This represents a 33.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total value of $32,096,336.20. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at $24,274,300. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 870,721 shares of company stock worth $286,248,728. Corporate insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TSLA. Barclays decreased their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. TD Cowen raised shares of Tesla from a "hold" rating to a "buy" rating and upped their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. UBS Group reduced their price objective on shares of Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. Wells Fargo & Company dropped their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Finally, Robert W. Baird dropped their price objective on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $294.27.

Tesla Stock Up 3.7%

TSLA stock opened at $295.14 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The company has a market cap of $950.63 billion, a PE ratio of 144.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The business has a 50-day simple moving average of $292.17 and a 200 day simple moving average of $333.56.

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

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.

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