Tesla, Inc. (NASDAQ:TSLA) is New Insight Wealth Advisors' 10th Largest Position

New Insight Wealth Advisors lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,721 shares of the electric vehicle producer's stock after buying an additional 891 shares during the period. Tesla makes up about 2.7% of New Insight Wealth Advisors' holdings, 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 institutional investors and hedge funds have also made changes to their positions in the company. Cherry Tree Wealth Management LLC increased its holdings 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 valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank grew its stake in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares in the last quarter. Newton One Investments LLC grew its stake in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares in the last quarter. True Wealth Design LLC grew its stake 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 acquiring an additional 31 shares in the last quarter. Finally, Centennial Bank AR grew its stake in shares of Tesla by 833.3% during the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after acquiring an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares of the company's stock, valued at $664,989. This represents a 75.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Tesla stock traded up $3.64 during mid-day trading on Friday, hitting $313.51. The company's stock had a trading volume of 78,861,329 shares, compared to its average volume of 99,596,575. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.01 trillion, a P/E ratio of 172.26, a P/E/G ratio of 9.33 and a beta of 2.39. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The stock's fifty day moving average price is $322.60 and its two-hundred day moving average price is $320.26.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the business posted $0.45 EPS. Research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TSLA shares. Guggenheim restated a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Tuesday. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Raymond James Financial cut shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Finally, Wedbush reaffirmed an "outperform" rating and set a $500.00 price target on shares of Tesla in a research report on Tuesday. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $300.19.

Tesla Company 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.