Fountainhead AM LLC Has $3.97 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Fountainhead AM LLC grew its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,320 shares of the electric vehicle producer's stock after purchasing an additional 1,390 shares during the period. Tesla comprises about 0.6% of Fountainhead AM LLC's holdings, making the stock its 24th largest position. Fountainhead AM LLC's holdings in Tesla were worth $3,970,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC boosted its stake in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank boosted its stake in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC boosted its stake in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI bought a new stake in Tesla during the 1st quarter valued at approximately $27,000. Finally, True Wealth Design LLC boosted its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated 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 owned 67,600 shares of the company's stock, valued at $21,889,556. This represents 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 Robyn M. Denholm sold 112,395 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the sale, the director directly owned 85,000 shares of the company's stock, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock valued at $279,420,485 over the last quarter. 20.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group reaffirmed a "buy" rating and set a $303.00 price target on shares of Tesla in a report on Monday, June 30th. Piper Sandler reiterated an "overweight" rating and set a $400.00 target price on shares of Tesla in a report on Tuesday, June 10th. Guggenheim reissued a "sell" rating and set a $175.00 price target on shares of Tesla in a research report on Tuesday, July 8th. Truist Financial set a $280.00 target price on Tesla in a research note on Tuesday, April 22nd. Finally, Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $300.19.

Tesla Price Performance

TSLA traded up $10.24 during trading on Friday, hitting $329.65. 93,904,102 shares of the company traded hands, compared to its average volume of 98,929,970. The company has a market cap of $1.06 trillion, a PE ratio of 181.13, a P/E/G ratio of 12.56 and a beta of 2.39. The stock's 50-day simple moving average is $326.27 and its two-hundred day simple moving average is $317.30. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the business posted $0.45 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.