Fragasso Financial Advisors Inc Has $1.23 Million Stake in Tesla, Inc. (NASDAQ:TSLA)

Fragasso Financial Advisors Inc boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,761 shares of the electric vehicle producer's stock after buying an additional 956 shares during the period. Fragasso Financial Advisors Inc's holdings in Tesla were worth $1,234,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC grew its stake in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. grew its stake in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. grew its stake in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC bought a new position in shares of Tesla during the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust bought a new position in shares of Tesla during the 4th quarter worth approximately $38,000. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 5.4%

Shares of NASDAQ:TSLA traded down $17.85 during midday trading on Thursday, hitting $314.20. 86,372,668 shares of the stock were exchanged, compared to its average volume of 98,379,586. The stock has a market capitalization of $1.01 trillion, a price-to-earnings ratio of 154.02, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business's 50-day moving average price is $291.12 and its 200 day moving average price is $334.34. Tesla, Inc. has a 12 month low of $167.41 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the firm posted $0.45 earnings per share. Analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 870,721 shares of company stock worth $286,248,728 over the last ninety days. Insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TSLA. Robert W. Baird decreased their price target on shares of Tesla from $370.00 to $320.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Roth Mkm decreased their target price on shares of Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research note on Tuesday, April 22nd. Cantor Fitzgerald decreased their target price on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $293.97.

Tesla 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.