HBK Sorce Advisory LLC Buys 886 Shares of Tesla, Inc. (NASDAQ:TSLA)

HBK Sorce Advisory LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,242 shares of the electric vehicle producer's stock after acquiring an additional 886 shares during the quarter. HBK Sorce Advisory LLC's holdings in Tesla were worth $6,023,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TSLA. Norges Bank acquired a new stake in Tesla in the 4th quarter valued at $14,420,248,000. FMR LLC increased its stake in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC increased its stake in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Tesla by 4,963.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Tesla by 21.6% during the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now owns 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 over the last three months. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on TSLA shares. Bank of America decreased their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and boosted their price target for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Cantor Fitzgerald cut their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $298.37.

Tesla Stock Performance

NASDAQ TSLA traded down $2.15 during trading on Friday, hitting $323.63. 88,778,334 shares of the company's stock traded hands, compared to its average volume of 101,976,695. The stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 177.82, a PEG ratio of 12.20 and a beta of 2.47. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The business has a 50 day moving average of $314.93 and a 200-day moving average of $329.21.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period last year, the company earned $0.45 earnings per share. As a group, equities research 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.