Sagespring Wealth Partners LLC Grows Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sagespring Wealth Partners LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,586 shares of the electric vehicle producer's stock after buying an additional 3,986 shares during the period. Sagespring Wealth Partners LLC's holdings in Tesla were worth $6,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter worth $14,420,248,000. FMR LLC grew its holdings in Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC increased its position in Tesla by 27,378.6% during the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the firm's 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 directly owns 1,463,220 shares of the company's stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president now owns 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock valued at $278,648,925 in the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA traded up $5.70 during trading on Thursday, reaching $322.05. The stock had a trading volume of 94,677,402 shares, compared to its average volume of 100,787,054. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a 1-year low of $179.66 and a 1-year high of $488.54. The stock has a market cap of $1.04 trillion, a PE ratio of 176.95, a PEG ratio of 11.88 and a beta of 2.47. The business has a fifty day moving average price of $303.42 and a 200-day moving average price of $332.59.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the previous year, the company earned $0.45 EPS. On average, equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on TSLA. HSBC lowered their target price on Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a report on Thursday, March 27th. Wedbush set a $500.00 target price on shares of Tesla in a report on Thursday, June 5th. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Robert W. Baird reissued a "neutral" rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Finally, Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $293.67.

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.