Tesla, Inc. (NASDAQ:TSLA) Position Increased by Sharpepoint LLC

Sharpepoint LLC raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 142.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,283 shares of the electric vehicle producer's stock after buying an additional 4,861 shares during the period. Tesla comprises approximately 1.9% of Sharpepoint LLC's investment portfolio, making the stock its 19th biggest position. Sharpepoint LLC's holdings in Tesla were worth $2,147,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TSLA. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter valued at approximately $14,420,248,000. FMR LLC lifted its position in shares of Tesla by 40.1% in the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA lifted 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 valued at $2,356,288,000 after acquiring an additional 5,719,466 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Tesla by 21.6% in the 4th quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays decreased their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. JPMorgan Chase & Co. decreased their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Guggenheim reissued a "sell" rating and set a $175.00 target price on shares of Tesla in a research note on Tuesday. Piper Sandler reissued an "overweight" rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Finally, UBS Group set a $290.00 target price on shares of Tesla in a research note on Monday, June 30th. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tesla currently has an average rating of "Hold" and an average target price of $301.13.

Insider Buying and Selling at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Down 0.6%

Shares of NASDAQ TSLA opened at $295.88 on Thursday. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a market cap of $953.02 billion, a PE ratio of 162.57, a P/E/G ratio of 8.86 and a beta of 2.39. 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 company has a 50-day moving average of $321.49 and a two-hundred day moving average of $323.10.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the prior year, the firm posted $0.45 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.