Ignite Planners LLC Acquires 767 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ignite Planners LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,743 shares of the electric vehicle producer's stock after purchasing an additional 767 shares during the quarter. Tesla accounts for about 1.0% of Ignite Planners LLC's holdings, making the stock its 19th largest holding. Ignite Planners LLC's holdings in Tesla were worth $4,977,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Cherry Tree Wealth Management LLC lifted its holdings in shares of Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after acquiring an additional 44 shares during the last quarter. First PREMIER Bank increased its stake in 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 purchasing an additional 42 shares during the period. Newton One Investments LLC increased its stake in 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 purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Tesla in the 1st quarter worth approximately $27,000. Finally, True Wealth Design LLC increased its stake in 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 period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on Tesla from $420.00 to $345.00 and set a "buy" rating on the stock in a research note on Friday, March 28th. Argus reaffirmed a "hold" rating on shares of Tesla in a research note on Monday, June 9th. William Blair cut Tesla from an "outperform" rating to a "market perform" rating in a research note on Monday, July 7th. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Finally, Royal Bank Of Canada decreased their price target on Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $299.91.

Tesla Stock Down 7.8%

Shares of NASDAQ TSLA traded down $26.06 during mid-day trading on Thursday, hitting $306.50. 132,036,984 shares of the stock traded hands, compared to its average volume of 107,996,695. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The stock has a fifty day moving average price of $326.13 and a 200-day moving average price of $315.92. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54. The company has a market cap of $987.22 billion, a price-to-earnings ratio of 168.72, a PEG ratio of 12.61 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company's revenue was down 11.8% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. Research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Buying and Selling

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

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.