Clarity Wealth Advisors LLC Acquires 2,150 Shares of Tesla, Inc. (NASDAQ:TSLA)

Clarity Wealth Advisors LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,618 shares of the electric vehicle producer's stock after buying an additional 2,150 shares during the quarter. Tesla accounts for approximately 1.1% of Clarity Wealth Advisors LLC's holdings, making the stock its 27th biggest holding. Clarity Wealth Advisors LLC's holdings in Tesla were worth $3,788,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its position 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 purchasing an additional 44 shares during the period. First PREMIER Bank grew its position in shares of Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares during the period. Newton One Investments LLC grew its position in shares of Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after buying an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new stake in shares of Tesla in the 1st quarter worth about $27,000. Finally, True Wealth Design LLC grew its position 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 buying an additional 31 shares during the period. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on TSLA. Piper Sandler reaffirmed an "overweight" rating and issued a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 23rd. HSBC reaffirmed a "reduce" rating and issued a $120.00 target price on shares of Tesla in a research report on Thursday, July 3rd. Finally, Argus reiterated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $300.19.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,000 shares of the firm's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm'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 completion of the transaction, 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 90 days, insiders sold 835,509 shares of company stock valued at $279,420,485. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Performance

Tesla stock traded up $3.64 during midday trading on Friday, hitting $313.51. The stock had a trading volume of 78,861,329 shares, compared to its average volume of 99,821,912. The firm's fifty day moving average is $322.60 and its two-hundred day moving average is $321.24. The company has a market capitalization of $1.01 trillion, a PE ratio of 172.26, a P/E/G ratio of 9.22 and a beta of 2.39. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period last year, the business earned $0.45 earnings per share. On average, research 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.