Parallel Advisors LLC Has $17.97 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Parallel Advisors LLC boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 6.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,338 shares of the electric vehicle producer's stock after acquiring an additional 4,048 shares during the period. Parallel Advisors LLC's holdings in Tesla were worth $17,971,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Summit Global Investments increased its position in shares of Tesla by 0.6% in the first quarter. Summit Global Investments now owns 37,030 shares of the electric vehicle producer's stock worth $9,597,000 after purchasing an additional 220 shares during the period. Tompkins Financial Corp grew its stake in Tesla by 44.9% during the first quarter. Tompkins Financial Corp now owns 2,060 shares of the electric vehicle producer's stock worth $534,000 after buying an additional 638 shares in the last quarter. Silvia Mccoll Wealth Management LLC grew its stake in Tesla by 1.1% during the first quarter. Silvia Mccoll Wealth Management LLC now owns 4,845 shares of the electric vehicle producer's stock worth $1,256,000 after buying an additional 52 shares in the last quarter. GoalVest Advisory LLC increased its holdings in Tesla by 46.8% in the 1st quarter. GoalVest Advisory LLC now owns 14,931 shares of the electric vehicle producer's stock valued at $3,870,000 after buying an additional 4,758 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Down 2.6%

Shares of NASDAQ:TSLA traded down $9.34 during midday trading on Friday, reaching $349.09. The company's stock had a trading volume of 122,996,137 shares, compared to its average volume of 98,033,976. The firm has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 171.12, a PEG ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The firm has a 50 day moving average price of $286.92 and a two-hundred day moving average price of $333.95. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period last year, the firm posted $0.45 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the transaction, the chief financial officer now directly owns 23,084 shares of the company's stock, valued at approximately $6,833,325.68. This represents a 20.63% decrease in their position. The transaction 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 that occurred on 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 transaction, the director now directly owns 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 984,783 shares of company stock worth $320,019,942 in the last quarter. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on TSLA shares. Wedbush reissued an "outperform" rating and issued a $500.00 price objective (up from $350.00) on shares of Tesla in a research note on Friday, May 23rd. Robert W. Baird reduced their target price on Tesla from $370.00 to $320.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Mizuho lifted their price target on Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Cantor Fitzgerald dropped their price objective on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, BNP Paribas set a $137.00 price objective on Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of "Hold" and a consensus price target of $293.97.

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.