Sweeney & Michel LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Sweeney & Michel LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,927 shares of the electric vehicle producer's stock, valued at approximately $759,000.

Several other hedge funds have also recently modified their holdings of the stock. True Wealth Design LLC lifted its stake in 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 purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. boosted its stake in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the last quarter. GS Investments Inc. grew its holdings in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock valued at $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC acquired a new stake in shares of Tesla in the 4th quarter worth $37,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Tesla during the 4th quarter worth $38,000. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Stock Performance

Shares of TSLA traded up $1.58 during mid-day trading on Tuesday, reaching $344.27. 98,896,529 shares of the company's stock were exchanged, compared to its average volume of 98,097,393. The business's fifty day simple moving average is $288.33 and its 200-day simple moving average is $334.29. The stock has a market capitalization of $1.11 trillion, a PE ratio of 168.76, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data 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 return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the previous year, the business posted $0.45 earnings per share. On average, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent analyst reports. Glj Research reiterated a "sell" rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Mizuho increased their price objective on Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a report on Friday, March 28th. Finally, Argus set a $410.00 price target on shares of Tesla in a research report on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of "Hold" and an average price target of $293.97.

Insider Buying and Selling

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction 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 sale, the director now owns 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. This trade represents a 9.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 866,393 shares of company stock valued at $284,570,654 over the last quarter. 20.70% of the stock is currently owned by insiders.

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.