Powell Investment Advisors LLC Buys 8,200 Shares of Tesla, Inc. (NASDAQ:TSLA)

Powell Investment Advisors LLC lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 149.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,670 shares of the electric vehicle producer's stock after buying an additional 8,200 shares during the quarter. Tesla comprises about 1.7% of Powell Investment Advisors LLC's portfolio, making the stock its 11th largest holding. Powell Investment Advisors LLC's holdings in Tesla were worth $3,543,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Eagle Capital Management LLC acquired a new stake in shares of Tesla during the fourth quarter worth $331,000. Brighton Jones LLC increased its position in Tesla by 11.8% during 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. Revolve Wealth Partners LLC increased its position in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after acquiring an additional 931 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in Tesla in the 4th quarter worth about $346,000. Finally, Highview Capital Management LLC DE bought a new stake in Tesla in the 4th quarter valued at about $2,367,000. Institutional investors own 66.20% of the company's stock.

Insider Activity

In related news, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction that occurred 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 transaction, the director owned 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 719,119 shares of company stock worth $246,186,549. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TSLA has been the topic of several recent research reports. Raymond James Financial cut shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Canaccord Genuity Group raised their price objective on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday, June 9th. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a report on Sunday, July 27th. Finally, William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday, July 7th. Ten investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $303.31.

Tesla Trading Down 1.8%

TSLA opened at $302.63 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.55. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The company's 50 day moving average price is $322.22 and its two-hundred day moving average price is $311.03. The firm has a market capitalization of $976.12 billion, a price-to-earnings ratio of 174.93, a PEG ratio of 10.63 and a beta of 2.33.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. Tesla's revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. As a group, research analysts predict that Tesla, Inc. will post 2.56 earnings per share 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.