Financial Counselors Inc. Has $50.58 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Financial Counselors Inc. lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,177 shares of the electric vehicle producer's stock after buying an additional 19,109 shares during the period. Financial Counselors Inc.'s holdings in Tesla were worth $50,582,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its position 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 last quarter. First PREMIER Bank boosted its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC boosted its holdings in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares during the last quarter. True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the last quarter. Finally, Compass Wealth Management LLC boosted its holdings in shares of Tesla by 360.0% in the 1st quarter. Compass Wealth Management LLC now owns 115 shares of the electric vehicle producer's stock valued at $30,000 after buying an additional 90 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Trading Up 1.3%

Shares of NASDAQ:TSLA traded up $3.87 during mid-day trading on Tuesday, reaching $297.81. 102,672,162 shares of the company's stock were exchanged, compared to its average volume of 100,828,712. The firm has a market capitalization of $959.23 billion, a price-to-earnings ratio of 163.63, a PEG ratio of 8.57 and a beta of 2.39. 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, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The business's fifty day moving average price is $321.10 and its 200-day moving average price is $323.46.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, research analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vaibhav Taneja sold 2,564 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,692,546.04. This represents a 30.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 829,509 shares of company stock worth $277,648,925 over the last ninety days. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TSLA shares. JPMorgan Chase & Co. cut their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Glj Research reiterated a "sell" rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Piper Sandler restated an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. UBS Group set a $290.00 price objective on shares of Tesla in a research note on Monday, June 30th. Finally, Wedbush reissued an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research note on Tuesday. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $301.13.

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.