Tesla, Inc. (NASDAQ:TSLA) Position Boosted by Pinion Investment Advisors LLC

Pinion Investment Advisors LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 141.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,432 shares of the electric vehicle producer's stock after acquiring an additional 16,641 shares during the period. Tesla makes up about 1.6% of Pinion Investment Advisors LLC's investment portfolio, making the stock its 11th largest holding. Pinion Investment Advisors LLC's holdings in Tesla were worth $7,368,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in TSLA. BayBridge Capital Group LLC grew its position in Tesla by 143.6% in the first quarter. BayBridge Capital Group LLC now owns 1,949 shares of the electric vehicle producer's stock valued at $505,000 after purchasing an additional 1,149 shares in the last quarter. Atlas Private Wealth Advisors grew its position in Tesla by 7.9% in the first quarter. Atlas Private Wealth Advisors now owns 11,661 shares of the electric vehicle producer's stock valued at $3,022,000 after purchasing an additional 851 shares in the last quarter. Cornell Pochily Investment Advisors Inc. grew its position in Tesla by 9.8% in the first quarter. Cornell Pochily Investment Advisors Inc. now owns 3,997 shares of the electric vehicle producer's stock valued at $1,036,000 after purchasing an additional 358 shares in the last quarter. Sound Income Strategies LLC grew its position in Tesla by 8.5% in the first quarter. Sound Income Strategies LLC now owns 17,755 shares of the electric vehicle producer's stock valued at $4,601,000 after purchasing an additional 1,395 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC grew its position in Tesla by 18.6% in the first quarter. Foster Victor Wealth Advisors LLC now owns 6,597 shares of the electric vehicle producer's stock valued at $1,664,000 after purchasing an additional 1,034 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Stock Up 1.9%

TSLA stock traded up $6.20 during mid-day trading on Friday, reaching $325.31. The company had a trading volume of 128,417,075 shares, compared to its average volume of 100,836,055. 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 company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 159.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The firm has a fifty day simple moving average of $299.39 and a 200 day simple moving average of $332.88. Tesla, Inc. has a fifty-two week low of $177.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the company posted $0.45 EPS. Analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction 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 completion of the sale, the director now owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 818,509 shares of company stock worth $273,791,775. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research note on Wednesday, April 23rd. Bank of America decreased their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Wedbush set a $500.00 target price on shares of Tesla in a report on Thursday, June 5th. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $293.67.

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.