Sageworth Trust Co Buys 2,635 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sageworth Trust Co grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 18.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,946 shares of the electric vehicle producer's stock after purchasing an additional 2,635 shares during the quarter. Tesla makes up approximately 0.3% of Sageworth Trust Co's holdings, making the stock its 25th biggest position. Sageworth Trust Co's holdings in Tesla were worth $4,392,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TSLA. Summit Trail Advisors LLC boosted its position in shares of Tesla by 34.1% during the first quarter. Summit Trail Advisors LLC now owns 51,052 shares of the electric vehicle producer's stock worth $13,231,000 after acquiring an additional 12,986 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Tesla by 4.2% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 362,238 shares of the electric vehicle producer's stock worth $93,878,000 after purchasing an additional 14,653 shares in the last quarter. Lansing Street Advisors boosted its holdings in shares of Tesla by 2.2% during the 1st quarter. Lansing Street Advisors now owns 1,959 shares of the electric vehicle producer's stock valued at $508,000 after purchasing an additional 42 shares during the last quarter. Von Berge Wealth Management Group LLC increased its holdings in shares of Tesla by 12.5% in the first quarter. Von Berge Wealth Management Group LLC now owns 6,745 shares of the electric vehicle producer's stock worth $1,750,000 after purchasing an additional 750 shares during the last quarter. Finally, Clear Creek Financial Management LLC raised its holdings in shares of Tesla by 8.6% during the 1st quarter. Clear Creek Financial Management LLC now owns 13,440 shares of the electric vehicle producer's stock worth $3,483,000 after acquiring an additional 1,069 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of analyst reports. Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Royal Bank Of Canada cut their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Truist Financial set a $280.00 target price on shares of Tesla in a research report on Tuesday, April 22nd. Finally, Piper Sandler reiterated an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $300.33.

Tesla Stock Performance

Shares of TSLA stock traded up $1.13 during trading on Thursday, reaching $316.78. 44,585,163 shares of the company's stock were exchanged, compared to its average volume of 101,356,705. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The firm's fifty day moving average price is $319.28 and its 200-day moving average price is $328.10. 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 $1.02 trillion, a PE ratio of 174.58, a PEG ratio of 11.41 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly 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). 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 analyst estimates of $22.93 billion. During the same period in the prior year, the company earned $0.45 EPS. As a group, sell-side analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling at Tesla

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,564 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total value of $732,560.44. Following the completion of the sale, the chief financial officer directly owned 5,924 shares in the company, valued at $1,692,546.04. This trade represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 in the last three months. Company insiders own 20.70% of the company's stock.

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.