Sargent Investment Group LLC Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Sargent Investment Group LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 74.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,959 shares of the electric vehicle producer's stock after acquiring an additional 5,100 shares during the quarter. Sargent Investment Group LLC's holdings in Tesla were worth $3,099,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TSLA. True Wealth Design LLC lifted its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. increased its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after buying an additional 34 shares in the last quarter. Navigoe LLC bought a new stake in shares of Tesla in the 4th quarter worth $37,000. CoreFirst Bank & Trust bought a new stake in shares of Tesla in the 4th quarter worth $38,000. Finally, Cherry Tree Wealth Management LLC increased its holdings in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on TSLA. Barclays cut their price objective on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Morgan Stanley restated an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research report on Friday, June 6th. Robert W. Baird reiterated a "neutral" rating and issued a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. UBS Group set a $290.00 target price on Tesla in a research report on Monday, June 30th. Finally, Benchmark reissued a "buy" rating and set a $475.00 price objective (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $300.19.

Tesla Stock Up 3.2%

Shares of NASDAQ TSLA opened at $329.65 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.06 trillion, a PE ratio of 181.13, a price-to-earnings-growth ratio of 12.56 and a beta of 2.39. The stock's fifty day simple moving average is $326.27 and its two-hundred day simple moving average is $316.70. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate 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 net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the prior year, the company posted $0.45 EPS. As a group, analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares in the company, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 value of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock valued at $279,420,485 over the last quarter. 20.70% of the stock is currently owned by company 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.

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