Richard P Slaughter Associates Inc Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Richard P Slaughter Associates Inc bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,662 shares of the electric vehicle producer's stock, valued at approximately $1,727,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lakeshore Capital Group Inc. lifted its position in shares of Tesla by 2.0% during the 1st quarter. Lakeshore Capital Group Inc. now owns 3,564 shares of the electric vehicle producer's stock worth $924,000 after buying an additional 70 shares during the last quarter. Accel Wealth Management increased its position in Tesla by 29.7% in the 1st quarter. Accel Wealth Management now owns 1,632 shares of the electric vehicle producer's stock valued at $423,000 after acquiring an additional 374 shares during the period. TrueWealth Advisors LLC raised its stake in shares of Tesla by 1.9% during the first quarter. TrueWealth Advisors LLC now owns 3,978 shares of the electric vehicle producer's stock worth $1,031,000 after purchasing an additional 75 shares during the last quarter. Amplius Wealth Advisors LLC lifted its stake in shares of Tesla by 34.0% in the 1st quarter. Amplius Wealth Advisors LLC now owns 1,586 shares of the electric vehicle producer's stock worth $411,000 after acquiring an additional 402 shares during the period. Finally, Apella Capital LLC increased its position in Tesla by 17.6% during the 1st quarter. Apella Capital LLC now owns 4,399 shares of the electric vehicle producer's stock worth $1,197,000 after purchasing an additional 658 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Price Performance

Tesla stock traded down $47.37 during trading hours on Thursday, hitting $284.68. 286,093,850 shares of the company traded hands, compared to its average volume of 99,144,630. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The firm has a market cap 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. The firm's 50-day simple moving average is $291.12 and its two-hundred day simple moving average is $334.34. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the business earned $0.45 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 870,721 shares of company stock worth $286,248,728. 20.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a report on Friday, March 14th. HSBC decreased their price target on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research note on Thursday, March 27th. Truist Financial set a $280.00 price target on Tesla in a research note on Tuesday, April 22nd. Glj Research restated a "sell" rating and set a $19.05 price objective (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Finally, Barclays dropped their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Ten 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 assigned a strong buy rating to the company. According to data from MarketBeat, Tesla has an average rating of "Hold" and an average target price of $293.97.

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.