Clarity Wealth Advisors LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Clarity Wealth Advisors LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,618 shares of the electric vehicle producer's stock after purchasing an additional 2,150 shares during the period. Tesla makes up approximately 1.1% of Clarity Wealth Advisors LLC's holdings, making the stock its 27th largest holding. Clarity Wealth Advisors LLC's holdings in Tesla were worth $3,788,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Tesla by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after buying an additional 3,571,793 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock worth $24,566,217,000 after purchasing an additional 1,655,203 shares during the period. Norges Bank acquired a new position in shares of Tesla during the fourth quarter worth about $14,420,248,000. FMR LLC increased its stake in 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 buying an additional 9,920,325 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Tesla by 21.6% during 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 purchasing an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Trading Up 1.1%

Tesla stock traded up $3.39 during trading hours on Monday, reaching $316.90. The company had a trading volume of 77,759,201 shares, compared to its average volume of 109,130,633. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The firm has a market cap of $1.02 trillion, a price-to-earnings ratio of 174.12, a P/E/G ratio of 9.33 and a beta of 2.39. The company has a 50-day moving average price of $322.60 and a 200 day moving average price of $319.32.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). The business had revenue of $19.34 billion during the quarter, compared to analysts' expectations 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 previous year, the business earned $0.45 EPS. Equities analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TSLA shares. Oppenheimer restated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Benchmark reissued a "buy" rating and issued a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. William Blair downgraded Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Mizuho reduced their price objective on shares of Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Finally, JPMorgan Chase & Co. cut their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tesla has an average rating of "Hold" and a consensus target price of $300.19.

Insider Transactions at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated 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 completion of the transaction, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 835,509 shares of company stock valued at $279,420,485. Insiders own 20.70% of the company's stock.

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.