Sharpepoint LLC Acquires 4,861 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sharpepoint LLC grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 142.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,283 shares of the electric vehicle producer's stock after purchasing an additional 4,861 shares during the period. Tesla makes up about 1.9% of Sharpepoint LLC's portfolio, making the stock its 19th biggest holding. Sharpepoint LLC's holdings in Tesla were worth $2,147,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TSLA. Rinkey Investments grew its stake in shares of Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after purchasing an additional 29 shares during the last quarter. Pitti Group Wealth Management LLC grew its stake in shares of Tesla by 2.2% in the 4th quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock worth $594,000 after purchasing an additional 31 shares during the last quarter. True Wealth Design LLC grew its stake in shares of 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 during the last quarter. Horrell Capital Management Inc. grew its stake in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the last quarter. Finally, Aldebaran Financial Inc. grew its stake in shares of Tesla by 3.1% in the 4th quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock worth $490,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TSLA shares. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Barclays dropped their target price on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Truist Financial set a $280.00 target price on shares of Tesla in a research report on Tuesday, April 22nd. Benchmark reissued a "buy" rating and issued a $475.00 target price (up from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Finally, The Goldman Sachs Group dropped their target price on shares of Tesla from $315.00 to $285.00 and set a "neutral" rating on the stock in a research report on Friday. Ten research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tesla has an average rating of "Hold" and an average price target of $300.19.

Insider Activity

In related news, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the transaction, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock valued at $279,420,485 over the last three months. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Performance

Shares of Tesla stock traded up $3.64 on Friday, reaching $313.51. The stock had a trading volume of 78,861,329 shares, compared to its average volume of 99,596,575. The business's 50-day moving average price is $322.60 and its two-hundred day moving average price is $319.32. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The stock has a market cap of $1.01 trillion, a P/E ratio of 172.26, a price-to-earnings-growth ratio of 9.33 and a beta of 2.39.

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 for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.