Shariaportfolio Inc. Purchases 5,795 Shares of Tesla, Inc. (NASDAQ:TSLA)

Shariaportfolio Inc. grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 5.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 106,948 shares of the electric vehicle producer's stock after purchasing an additional 5,795 shares during the quarter. Tesla accounts for 14.4% of Shariaportfolio Inc.'s portfolio, making the stock its 3rd largest position. Shariaportfolio Inc.'s holdings in Tesla were worth $27,717,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cherry Tree Wealth Management LLC grew 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 acquiring an additional 44 shares during the last quarter. First PREMIER Bank grew its holdings in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 42 shares during the last quarter. Newton One Investments LLC grew its holdings in shares of Tesla by 250.0% in the 1st 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 during the last quarter. True Wealth Design LLC grew its holdings in shares of 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 acquiring an additional 31 shares during the last quarter. Finally, Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% in the 4th 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 during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

TSLA opened at $348.68 on Tuesday. The company has a market cap of $1.12 trillion, a PE ratio of 191.58, a price-to-earnings-growth ratio of 12.05 and a beta of 2.47. The stock has a 50-day moving average of $308.14 and a 200-day moving average of $331.42. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. 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 (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 for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business 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 firm posted $0.45 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group lifted their target price on Tesla from $190.00 to $215.00 and gave the stock a "sell" rating in a report on Monday. Cfra Research downgraded Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley restated an "overweight" rating and set a $410.00 price objective on shares of Tesla in a research report on Friday, June 6th. Finally, TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and raised their price objective for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $294.58.

Insider Buying and Selling

In related news, CFO Vaibhav Taneja sold 1,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the chief financial officer now owns 1,950 shares of the company's stock, valued at approximately $682,500. The trade was a 33.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on 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 now directly owns 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 833,509 shares of company stock valued at $278,648,925. Insiders own 20.70% of the company's stock.

Tesla 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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