Savvy Advisors Inc. Has $3.64 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Savvy Advisors Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 55.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,053 shares of the electric vehicle producer's stock after purchasing an additional 5,038 shares during the period. Savvy Advisors Inc.'s holdings in Tesla were worth $3,642,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC lifted its stake in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank lifted its position in shares of Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC boosted its stake in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Tesla in the first quarter worth $27,000. Finally, True Wealth Design LLC increased its stake in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Kimbal Musk sold 91,588 shares of the business's 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 directly owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a 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 shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold 602,724 shares of company stock valued at $214,176,831 in the last quarter. 20.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TSLA shares. Wedbush reaffirmed an "outperform" rating and set a $500.00 price target on shares of Tesla in a research note on Monday. Canaccord Genuity Group upped their target price on Tesla from $303.00 to $333.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the stock an "underperform" rating in a report on Wednesday, April 16th. Piper Sandler reiterated an "overweight" rating and set a $400.00 price objective on shares of Tesla in a report on Tuesday, June 10th. Finally, Argus restated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Ten analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $303.31.

Tesla Stock Performance

NASDAQ:TSLA opened at $322.27 on Friday. The business's fifty day moving average is $319.07 and its 200 day moving average is $308.84. The firm has a market cap of $1.04 trillion, a price-to-earnings ratio of 186.28, a PEG ratio of 11.24 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04. Tesla, Inc. has a 52-week low of $192.04 and a 52-week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company's quarterly revenue was down 11.8% on a year-over-year basis. Research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

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.

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