Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by New Insight Wealth Advisors

New Insight Wealth Advisors lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,721 shares of the electric vehicle producer's stock after acquiring an additional 891 shares during the period. Tesla accounts for approximately 2.7% of New Insight Wealth Advisors' portfolio, making the stock its 10th biggest holding. New Insight Wealth Advisors' holdings in Tesla were worth $5,888,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC boosted its stake in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 44 shares during the last quarter. First PREMIER Bank boosted its stake in Tesla by 79.2% in 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 boosted its stake in Tesla by 250.0% in 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. True Wealth Design LLC lifted its stake in shares of Tesla by 79.5% in 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 in the last quarter. Finally, Centennial Bank AR lifted its stake in shares of Tesla by 833.3% in the 1st quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after purchasing an additional 100 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction dated 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 sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 829,509 shares of company stock worth $277,648,925 in the last 90 days. Insiders own 20.70% of the company's stock.

Tesla Stock Down 0.6%

NASDAQ TSLA traded down $1.93 on Wednesday, reaching $295.88. The stock had a trading volume of 75,143,508 shares, compared to its average volume of 100,727,258. The business has a 50 day moving average price of $321.21 and a 200 day moving average price of $323.29. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The company has a market capitalization of $953.02 billion, a price-to-earnings ratio of 162.57, a P/E/G ratio of 8.57 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (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 the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same quarter last year, the company posted $0.45 EPS. On average, analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

TSLA has been the topic of several research analyst reports. Mizuho reduced their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday. Roth Mkm reduced their price objective on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $303.00 price objective on shares of Tesla in a research note on Monday, June 30th. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Finally, William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $301.13.

Tesla Profile

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.