Patriot Financial Group Insurance Agency LLC Boosts Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Patriot Financial Group Insurance Agency LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 10.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,031 shares of the electric vehicle producer's stock after acquiring an additional 1,310 shares during the period. Patriot Financial Group Insurance Agency LLC's holdings in Tesla were worth $3,636,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Financial Advisory Corp lifted its position in shares of Tesla by 127.2% during the first quarter. Financial Advisory Corp now owns 1,797 shares of the electric vehicle producer's stock worth $466,000 after acquiring an additional 1,006 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Tesla by 213.5% during the first quarter. Revolve Wealth Partners LLC now owns 16,670 shares of the electric vehicle producer's stock worth $4,320,000 after acquiring an additional 11,353 shares in the last quarter. Wedmont Private Capital lifted its position in shares of Tesla by 38.8% during the first quarter. Wedmont Private Capital now owns 55,957 shares of the electric vehicle producer's stock worth $14,119,000 after acquiring an additional 15,634 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Tesla by 1.1% during the first quarter. UMB Bank n.a. now owns 153,020 shares of the electric vehicle producer's stock worth $39,657,000 after acquiring an additional 1,684 shares in the last quarter. Finally, Perennial Advisors LLC purchased a new stake in shares of Tesla during the first quarter worth $223,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Stock Up 3.7%

Shares of NASDAQ:TSLA opened at $295.14 on Friday. The stock's 50-day moving average price is $292.17 and its 200-day moving average price is $333.56. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The stock has a market capitalization of $950.63 billion, a P/E ratio of 144.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $22.93 billion. During the same period last year, the business posted $0.45 earnings per share. On average, equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent research reports. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and increased their target price for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Bank of America dropped their target price on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. BNP Paribas set a $137.00 price target on shares of Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a "buy" rating in a report on Thursday, April 24th. Finally, Cantor Fitzgerald decreased their price target 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. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $294.27.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total value of $32,096,336.20. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at $24,274,300. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 870,721 shares of company stock valued at $286,248,728. 20.70% of the stock is currently owned by insiders.

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.

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