J.W. Cole Advisors Inc. Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

J.W. Cole Advisors Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 110.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,040 shares of the electric vehicle producer's stock after buying an additional 33,116 shares during the period. Tesla makes up about 0.5% of J.W. Cole Advisors Inc.'s holdings, making the stock its 27th biggest position. J.W. Cole Advisors Inc.'s holdings in Tesla were worth $16,337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC lifted its holdings in 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 acquiring an additional 44 shares during the period. First PREMIER Bank raised its stake in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the last quarter. Newton One Investments LLC raised its stake in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla during the 1st quarter worth $27,000. Finally, True Wealth Design LLC raised its stake 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 worth $28,000 after buying an additional 31 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. The trade was a 75.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock worth $279,420,485 over the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TSLA shares. Roth Mkm cut their price target on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Truist Financial set a $280.00 target price on shares of Tesla in a research note on Tuesday, April 22nd. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Benchmark reissued a "buy" rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $300.19.

Tesla Stock Performance

Tesla stock opened at $329.65 on Friday. The stock's 50 day moving average price is $326.27 and its 200 day moving average price is $316.70. The firm has a market capitalization of $1.06 trillion, a PE ratio of 181.13, a price-to-earnings-growth ratio of 12.56 and a beta of 2.39. 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, Inc. has a one year low of $182.00 and a one year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results 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 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 9.02% and a net margin of 6.66%. During the same period last year, the firm posted $0.45 earnings per share. As a group, sell-side analysts expect 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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