Park Edge Advisors LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Park Edge Advisors LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 138.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,541 shares of the electric vehicle producer's stock after purchasing an additional 895 shares during the quarter. Park Edge Advisors LLC's holdings in Tesla were worth $399,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in TSLA. Wealth Group Ltd. purchased a new stake in shares of Tesla in the fourth quarter valued at about $275,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Tesla in the 4th quarter valued at approximately $1,361,000. Tallon Kerry Patrick purchased a new stake in shares of Tesla during the 4th quarter valued at approximately $374,000. Eagle Capital Management LLC acquired a new position in Tesla in the fourth quarter valued at approximately $331,000. Finally, Brighton Jones LLC grew its position in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after acquiring an additional 9,293 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Price Performance

Tesla stock traded down $47.37 during mid-day trading on Thursday, reaching $284.68. The company had a trading volume of 286,093,850 shares, compared to its average volume of 99,144,964. The stock's 50-day simple moving average is $291.12 and its 200-day simple moving average is $334.34. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The company has a market capitalization of $916.94 billion, a P/E ratio of 139.55, a P/E/G ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the prior year, the firm posted $0.45 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 1,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, the chief financial officer now directly owns 1,950 shares in the company, valued at approximately $682,500. This represents a 33.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Gebbia bought 4,000 shares of the stock in a transaction on Thursday, April 24th. The stock was purchased at an average cost of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the purchase, the director now directly owns 4,111 shares in the company, valued at $1,053,690.41. This trade represents a 3,603.60% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 870,721 shares of company stock valued at $286,248,728. Corporate insiders own 20.70% of the company's stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a research note on Tuesday, April 22nd. Truist Financial set a $280.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Finally, Barclays cut their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Tesla presently has a consensus rating of "Hold" and a consensus price target of $293.97.

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.