SOA Wealth Advisors LLC. Acquires 8,427 Shares of Tesla, Inc. (NASDAQ:TSLA)

SOA Wealth Advisors LLC. boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 388.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,595 shares of the electric vehicle producer's stock after buying an additional 8,427 shares during the quarter. SOA Wealth Advisors LLC.'s holdings in Tesla were worth $2,746,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in Tesla in the fourth quarter valued at approximately $14,420,248,000. FMR LLC increased its holdings in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC lifted its stake in shares of Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock worth $2,542,960,000 after acquiring an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC boosted its stake in shares of Tesla by 36,790.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Tesla by 4,963.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 112,390 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total value of $32,096,336.20. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at approximately $24,274,300. This trade represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 815,945 shares of company stock valued at $273,059,215. Insiders own 20.70% of the company's stock.

Tesla Trading Up 4.6%

Shares of NASDAQ:TSLA traded up $13.44 on Monday, hitting $308.58. The company had a trading volume of 137,827,105 shares, compared to its average volume of 100,028,113. The firm has a market capitalization of $993.92 billion, a price-to-earnings ratio of 151.27, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm's 50-day simple moving average is $292.17 and its two-hundred day simple moving average is $333.51. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the previous year, the business posted $0.45 earnings per share. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on TSLA. Morgan Stanley restated an "overweight" rating and issued a $410.00 price target on shares of Tesla in a report on Friday. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Truist Financial set a $280.00 target price on shares of Tesla in a research note on Tuesday, April 22nd. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and lifted their target price for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday. Ten research analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $293.67.

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.