Parisi Gray Wealth Management Acquires 1,727 Shares of Tesla, Inc. (NASDAQ:TSLA)

Parisi Gray Wealth Management boosted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,716 shares of the electric vehicle producer's stock after buying an additional 1,727 shares during the quarter. Tesla makes up approximately 1.1% of Parisi Gray Wealth Management's portfolio, making the stock its 22nd largest holding. Parisi Gray Wealth Management's holdings in Tesla were worth $3,296,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Tesla in the fourth quarter worth about $56,600,000. Strategic Family Wealth Counselors L.L.C. boosted its holdings in Tesla by 133.7% in the 4th quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock valued at $1,150,000 after purchasing an additional 1,629 shares during the period. Harvard Management Co. Inc. purchased a new position in shares of Tesla during the 4th quarter valued at $8,158,000. Vontobel Holding Ltd. increased its holdings in shares of Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after purchasing an additional 60,342 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in shares of Tesla by 451.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 285,121 shares of the electric vehicle producer's stock worth $115,143,000 after purchasing an additional 233,460 shares during the period. Institutional investors own 66.20% of the company's stock.

Tesla Stock Down 2.2%

Shares of NASDAQ TSLA traded down $7.32 during mid-day trading on Thursday, hitting $319.11. 104,392,972 shares of the stock traded hands, compared to its average volume of 100,679,108. The company has a market cap of $1.03 trillion, a price-to-earnings ratio of 156.43, a PEG ratio of 5.86 and a beta of 2.47. The stock has a fifty day moving average price of $295.60 and a 200-day moving average price of $333.11. Tesla, Inc. has a 52 week low of $169.80 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results 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). The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the firm posted $0.45 EPS. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Morgan Stanley restated an "overweight" rating and set a $410.00 price objective on shares of Tesla in a research report on Friday, June 6th. UBS Group cut their target price on shares of Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price target on shares of Tesla in a research note on Monday. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $293.67.

Insider Buying and Selling at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on 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 completion of the sale, the director now directly owns 855,394 shares in the company, 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. Over the last quarter, insiders sold 818,509 shares of company stock valued at $273,791,775. Corporate insiders own 20.70% of the company's stock.

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.