TBH Global Asset Management LLC Acquires 1,508 Shares of Tesla, Inc. (NASDAQ:TSLA)

TBH Global Asset Management LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 43.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,977 shares of the electric vehicle producer's stock after purchasing an additional 1,508 shares during the period. TBH Global Asset Management LLC's holdings in Tesla were worth $1,290,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TSLA. Rinkey Investments grew its stake in Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after buying an additional 29 shares during the last quarter. Bell Investment Advisors Inc boosted its holdings in shares of Tesla by 1.3% during the fourth quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer's stock worth $945,000 after acquiring an additional 30 shares during the period. Pitti Group Wealth Management LLC grew its position in shares of Tesla by 2.2% in the fourth quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock valued at $594,000 after purchasing an additional 31 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Tesla by 79.5% during the fourth 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 during the period. Finally, Garrett Wealth Advisory Group LLC lifted its holdings in Tesla by 2.4% during the 4th quarter. Garrett Wealth Advisory Group LLC now owns 1,401 shares of the electric vehicle producer's stock worth $566,000 after purchasing an additional 33 shares during the last quarter. Institutional investors own 66.20% of the company's stock.

Insider Activity

In related news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction on Thursday, June 12th. The stock was 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 now directly owns 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director now directly owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 833,509 shares of company stock valued at $278,648,925. Insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of several recent research reports. Truist Financial set a $280.00 price objective on Tesla in a research report on Tuesday, April 22nd. Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Argus restated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Finally, Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $298.37.

Tesla Price Performance

Shares of TSLA opened at $323.63 on Monday. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1.04 trillion, a PE ratio of 177.82, a PEG ratio of 12.20 and a beta of 2.47. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The business has a 50-day simple moving average of $314.93 and a two-hundred day simple moving average of $329.21.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 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 analyst estimates of $22.93 billion. During the same period in the prior year, the company earned $0.45 EPS. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.

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