Intellectus Partners LLC Acquires 1,655 Shares of Tesla, Inc. (NASDAQ:TSLA)

Intellectus Partners LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 72,988 shares of the electric vehicle producer's stock after acquiring an additional 1,655 shares during the quarter. Tesla comprises approximately 4.7% of Intellectus Partners LLC's holdings, making the stock its 2nd largest position. Intellectus Partners LLC's holdings in Tesla were worth $18,916,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in 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 purchasing an additional 31 shares during the period. Horrell Capital Management Inc. boosted its stake in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. boosted its stake in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC bought a new stake in Tesla during the 4th quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla during the 4th quarter valued at approximately $38,000. Institutional investors own 66.20% of the company's stock.

Insider Activity

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 1,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the chief financial officer now owns 1,950 shares in the company, valued at approximately $682,500. This trade represents a 33.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 870,721 shares of company stock worth $286,248,728 over the last three months. Corporate insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on TSLA. Wedbush set a $500.00 target price on Tesla in a research note on Thursday. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Royal Bank of Canada reduced their price objective on Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Argus set a $410.00 price objective on Tesla in a research report on Thursday, April 24th. Finally, Oppenheimer reiterated a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla presently has an average rating of "Hold" and a consensus target price of $294.27.

Tesla Trading Up 3.7%

Shares of Tesla stock traded up $10.44 during trading on Friday, reaching $295.14. 163,425,518 shares of the company were exchanged, compared to its average volume of 99,690,029. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The business has a 50-day moving average price of $292.17 and a 200-day moving average price of $333.62. The firm has a market capitalization of $950.63 billion, a price-to-earnings ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the firm earned $0.45 earnings per share. Sell-side analysts anticipate 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.