Spirit of America Management Corp NY Buys 1,225 Shares of Tesla, Inc. (NASDAQ:TSLA)

Spirit of America Management Corp NY lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 51.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,625 shares of the electric vehicle producer's stock after purchasing an additional 1,225 shares during the quarter. Spirit of America Management Corp NY's holdings in Tesla were worth $939,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cherry Tree Wealth Management LLC lifted its position in Tesla by 86.3% in 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 in the last quarter. Newton One Investments LLC lifted its position in Tesla by 250.0% in 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 in the last quarter. True Wealth Design LLC lifted its position in Tesla by 79.5% in 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 in the last quarter. Horrell Capital Management Inc. lifted its position in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after acquiring an additional 34 shares in the last quarter. Finally, Pflug Koory LLC lifted its position in Tesla by 370.4% in the 1st quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer's stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other news, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director now directly owns 85,000 shares of the company's stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock valued at $278,648,925 in the last three months. Company insiders own 20.70% of the company's stock.

Tesla Stock Up 1.8%

Tesla stock opened at $322.05 on Friday. Tesla, Inc. has a 1-year low of $179.66 and a 1-year high of $488.54. The firm has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 176.95, a P/E/G ratio of 12.04 and a beta of 2.47. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $304.81 and a 200 day simple moving average of $332.35.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the business earned $0.45 earnings per share. On average, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Benchmark reaffirmed a "buy" rating and issued a $350.00 price target on shares of Tesla in a research report on Wednesday, April 23rd. Piper Sandler reissued an "overweight" rating and set a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Wedbush set a $500.00 target price on shares of Tesla in a research report on Thursday, June 5th. Morgan Stanley reissued an "overweight" rating and set a $410.00 target price on shares of Tesla in a research report on Friday, June 6th. Finally, Royal Bank Of Canada dropped their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $293.67.

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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