Rovin Capital UT ADV Purchases 1,350 Shares of Tesla, Inc. (NASDAQ:TSLA)

Rovin Capital UT ADV increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 75.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,140 shares of the electric vehicle producer's stock after acquiring an additional 1,350 shares during the quarter. Rovin Capital UT ADV's holdings in Tesla were worth $814,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC boosted its stake in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. boosted its stake in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares in the last quarter. GS Investments Inc. boosted its stake in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC bought a new position in Tesla during the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla during the fourth quarter worth $38,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Piper Sandler reissued an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Robert W. Baird reaffirmed a "neutral" rating and issued a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $303.00 price objective on shares of Tesla in a research note on Monday, June 30th. Finally, BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Ten 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 given a strong buy rating to the stock. According to MarketBeat, Tesla has a consensus rating of "Hold" and an average price target of $301.24.

Tesla Stock Performance

NASDAQ TSLA traded down $2.09 during trading hours on Friday, reaching $313.56. 58,042,302 shares of the company were exchanged, compared to its average volume of 100,923,382. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The business's 50 day simple moving average is $320.93 and its 200-day simple moving average is $325.13. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.01 trillion, a P/E ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter last year, the business posted $0.45 EPS. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 in the last three months. 20.70% of the stock is owned by corporate 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.