GAMMA Investing LLC Acquires 2,153 Shares of Tesla, Inc. (NASDAQ:TSLA)

GAMMA Investing LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,862 shares of the electric vehicle producer's stock after purchasing an additional 2,153 shares during the quarter. Tesla makes up approximately 0.7% of GAMMA Investing LLC's holdings, making the stock its 18th biggest position. GAMMA Investing LLC's holdings in Tesla were worth $9,812,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Rinkey Investments increased its holdings in Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after acquiring an additional 29 shares during the last quarter. Ndwm LLC increased its holdings in shares of Tesla by 0.8% in the fourth quarter. Ndwm LLC now owns 3,563 shares of the electric vehicle producer's stock worth $1,439,000 after purchasing an additional 30 shares during the last quarter. Bell Investment Advisors Inc increased its stake in Tesla by 1.3% in the 4th quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer's stock worth $945,000 after acquiring an additional 30 shares during the last quarter. Pitti Group Wealth Management LLC raised its holdings in shares of Tesla by 2.2% during the 4th quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock worth $594,000 after acquiring an additional 31 shares in the last quarter. Finally, True Wealth Design LLC boosted its position 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 valued at $28,000 after acquiring an additional 31 shares during the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. HSBC dropped their price target on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research report on Thursday, March 27th. Wedbush restated an "outperform" rating and set a $500.00 price objective on shares of Tesla in a research report on Friday, June 20th. Finally, BNP Paribas set a $137.00 target price on Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $298.37.

Insider Transactions at Tesla

In other news, Director Robyn M. Denholm sold 112,395 shares of the company's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director now owns 85,000 shares in the company, valued at $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 833,509 shares of company stock worth $278,648,925. Insiders own 20.70% of the company's stock.

Tesla Price Performance

NASDAQ TSLA opened at $323.63 on Friday. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The firm's 50 day moving average price is $314.93 and its 200-day moving average price is $330.48. The company has a market cap of $1.04 trillion, a PE ratio of 177.82, a P/E/G ratio of 12.18 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter last year, the firm earned $0.45 EPS. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS 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.

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