Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 42.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,038 shares of the electric vehicle producer's stock after acquiring an additional 11,676 shares during the period. Tesla makes up 2.4% of Canvas Wealth Advisors LLC's portfolio, making the stock its 13th biggest position. Canvas Wealth Advisors LLC's holdings in Tesla were worth $9,290,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Cherry Tree Wealth Management LLC increased its stake in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 44 shares during the period. First PREMIER Bank increased its stake in Tesla by 79.2% during the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC increased its stake in Tesla by 250.0% during the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares during the period. True Wealth Design LLC increased its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the period. Finally, Horrell Capital Management Inc. increased its stake in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after buying an additional 34 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction that occurred 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 transaction, the director now directly owns 85,000 shares in the company, valued at approximately $23,300,200. This represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have commented on TSLA. Mizuho raised their target price on shares of Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Glj Research restated a "sell" rating and set a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Barclays reduced their price objective on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research report on Monday, April 21st. Raymond James Financial lowered shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Finally, Wedbush restated an "outperform" rating and set a $500.00 price objective on shares of Tesla in a research report on Friday, June 20th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $298.37.

Tesla Price Performance

Shares of TSLA opened at $323.63 on Friday. The firm has a market cap of $1.04 trillion, a PE ratio of 177.82, a PEG ratio of 12.18 and a beta of 2.47. The firm's 50 day moving average price is $314.93 and its 200 day moving average price is $330.48. 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 twelve month low of $182.00 and a twelve month high of $488.54.

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 the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the previous year, the business posted $0.45 EPS. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS 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.

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