Founders Financial Alliance LLC Buys 1,061 Shares of Tesla, Inc. (NASDAQ:TSLA)

Founders Financial Alliance LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 59.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,853 shares of the electric vehicle producer's stock after purchasing an additional 1,061 shares during the period. Founders Financial Alliance LLC's holdings in Tesla were worth $739,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TSLA. Eagle Capital Management LLC bought a new stake in shares of Tesla during the 4th quarter worth about $331,000. Brighton Jones LLC boosted its holdings 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. Revolve Wealth Partners LLC grew its position 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 valued at $2,147,000 after purchasing an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Tesla during the fourth quarter worth approximately $346,000. Finally, Highview Capital Management LLC DE acquired a new stake in Tesla during the 4th quarter worth approximately $2,367,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on TSLA shares. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. UBS Group set a $290.00 target price on Tesla in a report on Monday, June 30th. Benchmark reaffirmed a "buy" rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the stock a "buy" rating in a research note on Thursday, April 24th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Price Performance

Tesla stock opened at $322.27 on Friday. The stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 186.28, a PEG ratio of 11.24 and a beta of 2.33. Tesla, Inc. has a 52-week low of $192.04 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. The stock's 50 day moving average price is $319.07 and its two-hundred day moving average price is $308.84.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results 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). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same period last year, the firm posted $0.52 earnings per share. The company's revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at $1,777,200. This trade represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 602,724 shares of company stock worth $214,176,831. 20.70% of the stock is currently owned by insiders.

About Tesla

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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