NFP Retirement Inc. Acquires 922 Shares of Tesla, Inc. (NASDAQ:TSLA)

NFP Retirement Inc. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 26.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,411 shares of the electric vehicle producer's stock after purchasing an additional 922 shares during the quarter. NFP Retirement Inc.'s holdings in Tesla were worth $1,143,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Eagle Capital Management LLC bought a new stake in Tesla during the 4th quarter valued at about $331,000. Brighton Jones LLC grew its position in shares of Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after buying an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new stake in Tesla during the 4th quarter worth approximately $346,000. Finally, Highview Capital Management LLC DE purchased a new stake in Tesla during the 4th quarter worth approximately $2,367,000. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

TSLA has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an "underperform" rating in a report on Wednesday, April 16th. Cantor Fitzgerald dropped their price objective on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Canaccord Genuity Group upped their price objective on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Ten analysts have rated the stock with a sell rating, fifteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla presently has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Price Performance

Shares of TSLA opened at $340.84 on Wednesday. Tesla, Inc. has a fifty-two week low of $197.06 and a fifty-two week high of $488.54. The company has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 197.02, a price-to-earnings-growth ratio of 11.79 and a beta of 2.33. The firm has a 50-day simple moving average of $318.54 and a 200-day simple moving average of $306.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. During the same quarter last year, the company posted $0.52 EPS. Tesla's quarterly revenue was down 11.8% on a year-over-year basis. On average, equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 602,724 shares of company stock worth $214,176,831 in the last 90 days. Corporate insiders own 20.70% of the company's stock.

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.

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