Financial Sense Advisors Inc. Increases Stake in Tesla, Inc. (NASDAQ:TSLA)

Financial Sense Advisors Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 60.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 68,558 shares of the electric vehicle producer's stock after acquiring an additional 25,820 shares during the period. Tesla accounts for about 5.0% of Financial Sense Advisors Inc.'s holdings, making the stock its 4th biggest position. Financial Sense Advisors Inc.'s holdings in Tesla were worth $17,767,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rinkey Investments raised its stake in shares of Tesla by 3.5% in the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after purchasing an additional 29 shares during the last quarter. True Wealth Design LLC increased its position 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 valued at $28,000 after acquiring an additional 31 shares during the last quarter. Horrell Capital Management Inc. increased its position 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 valued at $32,000 after acquiring an additional 34 shares during the last quarter. Aldebaran Financial Inc. increased its position in shares of Tesla by 3.1% during the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock valued at $490,000 after acquiring an additional 35 shares during the last quarter. Finally, Acorn Wealth Advisors LLC increased its position in shares of Tesla by 1.9% during the first quarter. Acorn Wealth Advisors LLC now owns 1,901 shares of the electric vehicle producer's stock valued at $493,000 after acquiring an additional 36 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. This represents a 35.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock valued at $279,420,485 in the last quarter. 20.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley reaffirmed an "overweight" rating and set a $410.00 price target on shares of Tesla in a research report on Friday, June 6th. Guggenheim reissued a "sell" rating and set a $175.00 price objective on shares of Tesla in a report on Wednesday. Benchmark reissued a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a report on Thursday, June 26th. HSBC reissued a "reduce" rating and set a $120.00 price objective on shares of Tesla in a report on Thursday, July 3rd. Finally, Roth Mkm reduced their price objective on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $302.75.

Tesla Price Performance

TSLA stock traded up $16.68 on Friday, hitting $321.98. 78,082,033 shares of the company's stock traded hands, compared to its average volume of 107,947,438. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The stock has a fifty day moving average of $325.38 and a 200-day moving average of $315.19. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 185.96, a P/E/G ratio of 12.63 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 8.11%. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 EPS. On average, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Tesla Company 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.