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

New Insight Wealth Advisors increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,721 shares of the electric vehicle producer's stock after acquiring an additional 891 shares during the quarter. Tesla makes up about 2.7% of New Insight Wealth Advisors' investment portfolio, making the stock its 10th largest position. New Insight Wealth Advisors' holdings in Tesla were worth $5,888,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC purchased a new position in shares of Tesla in the 4th quarter valued at approximately $56,600,000. Means Investment CO. Inc. raised its position in shares of Tesla by 37.7% in the 1st quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after purchasing an additional 6,323 shares during the last quarter. Focus Financial Network Inc. raised its position in shares of Tesla by 3.1% in the 1st quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after purchasing an additional 670 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of Tesla by 8.5% in the 1st quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after purchasing an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. purchased a new position in shares of Tesla in the 4th quarter valued at approximately $8,158,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TSLA has been the topic of several research reports. Truist Financial set a $280.00 price target on shares of Tesla in a report on Tuesday, April 22nd. Benchmark reaffirmed a "buy" rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Wells Fargo & Company dropped their price objective on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. Morgan Stanley reiterated an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Finally, Mizuho decreased their target price on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research report on Tuesday. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Tesla has an average rating of "Hold" and a consensus price target of $301.13.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction dated 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 approximately $664,989. The trade was a 75.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the director directly owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Up 3.0%

NASDAQ TSLA traded up $8.82 during trading on Thursday, hitting $304.70. The stock had a trading volume of 51,955,701 shares, compared to its average volume of 100,301,629. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a market capitalization of $981.43 billion, a PE ratio of 167.40, a PEG ratio of 8.86 and a beta of 2.39. 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 firm has a 50 day moving average price of $321.49 and a 200 day moving average price of $323.10.

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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share 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.