Firethorn Wealth Partners LLC Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Firethorn Wealth Partners LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 96.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,776 shares of the electric vehicle producer's stock after purchasing an additional 872 shares during the quarter. Firethorn Wealth Partners LLC's holdings in Tesla were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Tesla during the fourth quarter valued at approximately $14,420,248,000. FMR LLC lifted its holdings in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after buying an additional 9,920,325 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC grew its holdings in shares of Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after acquiring an additional 8,637,195 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after acquiring an additional 5,719,466 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the firm's 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 transaction, the director now owns 1,463,220 shares in the company, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 870,721 shares of company stock worth $286,248,728. 20.70% of the stock is owned by insiders.

Tesla Stock Down 14.3%

NASDAQ TSLA traded down $47.37 during trading on Thursday, reaching $284.68. 286,093,850 shares of the company's stock traded hands, compared to its average volume of 99,144,964. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The firm has a market cap of $916.94 billion, a price-to-earnings ratio of 139.55, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company's 50 day simple moving average is $291.12 and its two-hundred day simple moving average is $334.34.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 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 the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the firm earned $0.45 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Stifel Nicolaus set a $450.00 target price on Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Wells Fargo & Company reduced their target price on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Raymond James lowered Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Finally, Wedbush reaffirmed an "outperform" rating and issued a $500.00 target price (up from $350.00) on shares of Tesla in a report on Friday, May 23rd. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $293.97.

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.