Tesla, Inc. (NASDAQ:TSLA) Position Lifted by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 102,626 shares of the electric vehicle producer's stock after acquiring an additional 6,016 shares during the period. Tesla makes up about 1.5% of HighPoint Advisor Group LLC's portfolio, making the stock its 10th largest holding. HighPoint Advisor Group LLC's holdings in Tesla were worth $26,597,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC lifted its stake in shares of Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares in the last quarter. First PREMIER Bank lifted its stake in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares in the last quarter. Newton One Investments LLC lifted its stake in shares of Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI bought a new position in shares of Tesla in the first quarter valued at $27,000. Finally, True Wealth Design LLC lifted its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Up 1.1%

Shares of TSLA traded up $3.62 during mid-day trading on Tuesday, hitting $332.11. 76,939,359 shares of the company traded hands, compared to its average volume of 98,750,451. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.07 trillion, a PE ratio of 182.48, a price-to-earnings-growth ratio of 12.56 and a beta of 2.39. The business has a 50 day moving average of $326.27 and a 200 day moving average of $316.26.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the company posted $0.45 EPS. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

TSLA has been the topic of a number of recent research reports. William Blair lowered shares of Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Roth Mkm dropped their price target on shares of Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Barclays dropped their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. HSBC reissued a "reduce" rating and set a $120.00 price target on shares of Tesla in a research report on Thursday, July 3rd. Finally, Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the company a "buy" rating in a research report on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $298.97.

Insider Activity

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director owned 855,394 shares of the company's stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. 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 stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the transaction, the chief financial officer owned 5,924 shares in the company, valued at $1,777,200. This trade represents a 25.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock worth $279,420,485 over the last 90 days. Company insiders own 20.70% of the company's stock.

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.