Fortitude Advisory Group L.L.C. Buys 852 Shares of Tesla, Inc. (NASDAQ:TSLA)

Fortitude Advisory Group L.L.C. increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,135 shares of the electric vehicle producer's stock after buying an additional 852 shares during the quarter. Tesla accounts for 0.9% of Fortitude Advisory Group L.L.C.'s investment portfolio, making the stock its 18th largest holding. Fortitude Advisory Group L.L.C.'s holdings in Tesla were worth $1,240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of TSLA. Wealth Group Ltd. purchased a new position in shares of Tesla in the fourth quarter worth about $275,000. Tallon Kerry Patrick purchased a new position in Tesla in the 4th quarter valued at approximately $374,000. Eagle Capital Management LLC bought a new stake in Tesla during the 4th quarter valued at $331,000. Brighton Jones LLC lifted its position 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 in the last quarter. Finally, Revolve Wealth Partners LLC boosted its holdings in shares of Tesla by 21.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred 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 transaction, the senior vice president now owns 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 in the last three months. Insiders own 20.70% of the company's stock.

Tesla Trading Up 1.2%

Shares of NASDAQ:TSLA opened at $329.13 on Tuesday. The stock has a 50 day moving average of $301.53 and a 200 day moving average of $332.77. The company has a market cap of $1.06 trillion, a PE ratio of 161.34, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 12-month low of $177.00 and a 12-month high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the previous year, the company posted $0.45 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TSLA shares. Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. UBS Group reduced their price target on shares of Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Roth Mkm dropped their price objective on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Finally, Royal Bank of Canada decreased their target price on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $293.67.

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.

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