Keystone Financial Services LLC Buys 976 Shares of Tesla, Inc. (NASDAQ:TSLA)

Keystone Financial Services LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 160.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,584 shares of the electric vehicle producer's stock after buying an additional 976 shares during the quarter. Keystone Financial Services LLC's holdings in Tesla were worth $411,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Rinkey Investments lifted its position in shares of Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after acquiring an additional 29 shares during the period. Bell Investment Advisors Inc grew its holdings in Tesla by 1.3% in the fourth quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer's stock worth $945,000 after purchasing an additional 30 shares during the period. Pitti Group Wealth Management LLC increased its stake in Tesla by 2.2% in the fourth quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock valued at $594,000 after purchasing an additional 31 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Tesla by 79.5% during the fourth 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. Finally, Garrett Wealth Advisory Group LLC grew its stake in shares of Tesla by 2.4% in the 4th quarter. Garrett Wealth Advisory Group LLC now owns 1,401 shares of the electric vehicle producer's stock valued at $566,000 after buying an additional 33 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of Tesla 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 of the company's stock, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock valued at $278,648,925 in the last quarter. 20.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TSLA has been the topic of a number of research reports. Truist Financial set a $280.00 price target on Tesla in a research note on Tuesday, April 22nd. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. UBS Group increased their target price on Tesla from $190.00 to $215.00 and gave the stock a "sell" rating in a report on Monday, June 23rd. Bank of America lowered their price objective on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Finally, Mizuho raised their price objective on shares of Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $298.37.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded down $16.95 during trading on Tuesday, hitting $300.71. 144,340,064 shares of the company were exchanged, compared to its average volume of 102,047,073. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The stock has a 50 day moving average of $316.73 and a 200 day moving average of $328.38. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The company has a market cap of $968.57 billion, a PE ratio of 165.23, a P/E/G ratio of 12.20 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its 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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current 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.