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

Parisi Gray Wealth Management lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,716 shares of the electric vehicle producer's stock after purchasing an additional 1,727 shares during the quarter. Tesla comprises approximately 1.1% of Parisi Gray Wealth Management's holdings, making the stock its 22nd largest position. Parisi Gray Wealth Management's holdings in Tesla were worth $3,296,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. True Wealth Design LLC raised its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Horrell Capital Management Inc. lifted its position in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. boosted its holdings in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC bought a new stake in Tesla in the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in Tesla during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other news, 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 transaction of $170,636,475.60. Following the sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia purchased 4,000 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the acquisition, the director now directly owns 4,111 shares of the company's stock, valued at $1,053,690.41. The trade was a 3,603.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 815,945 shares of company stock valued at $273,059,215. 20.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on TSLA shares. Truist Financial set a $280.00 target price on Tesla in a report on Tuesday, April 22nd. Mizuho increased their price objective on shares of Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Stifel Nicolaus set a $450.00 target price on shares of Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, Glj Research restated a "sell" rating and issued a $19.05 price objective (down from $24.86) on shares of Tesla in a research note on Monday, April 21st. Ten research analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $294.27.

Tesla Stock Performance

NASDAQ:TSLA opened at $295.14 on Monday. The firm has a market capitalization of $950.63 billion, a PE ratio of 144.68, a PEG ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm's fifty day simple moving average is $292.17 and its 200 day simple moving average is $333.51.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 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 company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the company earned $0.45 earnings per share. On average, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

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.

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