Retirement Income Solutions Inc Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Retirement Income Solutions Inc purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 914 shares of the electric vehicle producer's stock, valued at approximately $237,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cherry Tree Wealth Management LLC lifted its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares in the last quarter. First PREMIER Bank increased its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC increased its position in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in shares of Tesla during the 1st quarter worth about $27,000. Finally, True Wealth Design LLC grew its position in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Up 3.5%

NASDAQ:TSLA traded up $10.76 during trading hours on Friday, hitting $316.06. 147,437,834 shares of the company's stock traded hands, compared to its average volume of 90,285,424. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.04. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The stock's fifty day moving average price is $324.70 and its two-hundred day moving average price is $314.65. The firm has a market cap of $1.02 trillion, a P/E ratio of 182.69, a P/E/G ratio of 11.59 and a beta of 2.39.

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

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 835,509 shares of company stock worth $279,420,485. Insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TSLA shares. Truist Financial set a $280.00 price target on Tesla in a report on Tuesday, April 22nd. Wedbush restated an "outperform" rating and set a $500.00 price target on shares of Tesla in a research note on Tuesday. Roth Mkm cut their price objective on Tesla from $450.00 to $395.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. BNP Paribas set a $137.00 price objective on Tesla and gave the stock an "underperform" rating in a research report on Wednesday, April 16th. Finally, Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $302.75.

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.