Horizon Financial Services LLC Increases Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Horizon Financial Services LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14,547.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,369 shares of the electric vehicle producer's stock after purchasing an additional 3,346 shares during the quarter. Horizon Financial Services LLC's holdings in Tesla were worth $873,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Equita Financial Network Inc. boosted its holdings in shares of Tesla by 4.9% in the 1st quarter. Equita Financial Network Inc. now owns 894 shares of the electric vehicle producer's stock valued at $232,000 after buying an additional 42 shares in the last quarter. American Capital Advisory LLC grew its position in shares of Tesla by 3.9% during the first quarter. American Capital Advisory LLC now owns 1,200 shares of the electric vehicle producer's stock worth $311,000 after acquiring an additional 45 shares during the last quarter. Krane Funds Advisors LLC grew its position in shares of Tesla by 20.8% during the first quarter. Krane Funds Advisors LLC now owns 11,370 shares of the electric vehicle producer's stock worth $2,947,000 after acquiring an additional 1,960 shares during the last quarter. Aaron Wealth Advisors LLC increased its holdings in shares of Tesla by 4.8% in the 1st quarter. Aaron Wealth Advisors LLC now owns 14,047 shares of the electric vehicle producer's stock valued at $3,640,000 after acquiring an additional 637 shares during the period. Finally, Defender Capital LLC. raised its position in Tesla by 23.4% in the 1st quarter. Defender Capital LLC. now owns 11,630 shares of the electric vehicle producer's stock valued at $3,068,000 after purchasing an additional 2,203 shares during the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

NASDAQ:TSLA traded down $2.09 during mid-day trading on Thursday, hitting $313.56. 58,042,302 shares of the company's stock traded hands, compared to its average volume of 101,397,730. 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 company has a market cap of $1.01 trillion, a PE ratio of 172.29, a price-to-earnings-growth ratio of 11.41 and a beta of 2.39. The firm's 50 day simple moving average is $319.28 and its 200 day simple moving average is $328.10. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $22.93 billion. During the same period last year, the business earned $0.45 earnings per share. Sell-side analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Argus restated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Morgan Stanley restated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research report on Friday, June 6th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $303.00 price objective on shares of Tesla in a research report on Monday. The Goldman Sachs Group upped their price target on Tesla from $285.00 to $315.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Stifel Nicolaus set a $450.00 price target on Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average target price of $301.24.

Insider Activity at Tesla

In other news, Director Robyn M. Denholm sold 112,395 shares of the business's stock in a transaction on 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 completion of the transaction, the director directly owned 85,000 shares of the company's stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. 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 in the last ninety days. 20.70% of the stock is owned by insiders.

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.