Sheaff Brock Investment Advisors LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Sheaff Brock Investment Advisors LLC increased its stake in Tesla, Inc. by 3.7%, holding 26,144 shares valued at approximately $6.78 million as of the latest SEC filing.
• Tesla's CFO sold 2,000 shares at an average price of $300, indicating a 25.24% decrease in their ownership, while insiders sold a total of 835,509 shares worth nearly $279.4 million in the past ninety days.
• Analysts have varied forecasts for Tesla's stock, with target price adjustments ranging from $285 to $475, and the average 'Hold' rating suggesting caution among investors.

Sheaff Brock Investment Advisors LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,144 shares of the electric vehicle producer's stock after buying an additional 938 shares during the quarter. Sheaff Brock Investment Advisors LLC's holdings in Tesla were worth $6,776,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Cherry Tree Wealth Management LLC boosted its position in shares of Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank boosted 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 last quarter. Newton One Investments LLC boosted its position in shares of Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in shares of Tesla during the 1st quarter valued at about $27,000. Finally, True Wealth Design LLC boosted its position in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction 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 sale, the senior vice president directly owned 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. Insiders sold a total of 835,509 shares of company stock worth $279,420,485 in the last ninety days. 20.70% of the stock is owned by insiders.

Tesla Stock Up 3.5%

Shares of NASDAQ:TSLA opened at $316.06 on Monday. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 182.69, a PEG ratio of 9.93 and a beta of 2.39. The firm's 50-day simple moving average is $324.70 and its 200-day simple moving average is $313.53. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. During the same period last year, the business posted $0.52 EPS. Tesla's revenue was down 11.8% compared to the same quarter last year. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of recent analyst reports. The Goldman Sachs Group decreased their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Canaccord Genuity Group upped their target price on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Benchmark reaffirmed a "buy" rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, Truist Financial set a $280.00 target price on shares of Tesla in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Tesla presently has an average rating of "Hold" and a consensus price target of $302.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.