SOA Wealth Advisors LLC. Increases Position in Tesla, Inc. (NASDAQ:TSLA)

SOA Wealth Advisors LLC. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 388.7% in 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 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the stock. True Wealth Design LLC grew its position in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the period. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% during the fourth 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 during the last quarter. GS Investments Inc. lifted its stake in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC bought a new position in Tesla during the fourth quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in Tesla during the fourth quarter valued at $38,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director now owns 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the chief financial officer now directly owns 1,950 shares in the company, valued at approximately $682,500. The trade was a 33.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 818,509 shares of company stock valued at $273,791,775. 20.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on TSLA. Raymond James cut Tesla to an "outperform" rating in a report on Tuesday, April 22nd. HSBC dropped their price objective on Tesla from $165.00 to $130.00 and set a "reduce" rating on the stock in a research report on Thursday, March 27th. JPMorgan Chase & Co. cut their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Canaccord Genuity Group dropped their target price on Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $293.67.

Tesla Trading Up 0.1%

NASDAQ TSLA traded up $0.34 during trading hours on Wednesday, reaching $326.43. The company had a trading volume of 120,755,656 shares, compared to its average volume of 100,512,864. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.05 trillion, a P/E ratio of 160.02, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The stock has a 50-day moving average of $293.86 and a 200 day moving average of $333.15. 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 posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the business posted $0.45 EPS. As a group, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.