Principle Wealth Partners LLC Boosts Position in Tesla, Inc. (NASDAQ:TSLA)

Principle Wealth Partners LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 4.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,040 shares of the electric vehicle producer's stock after buying an additional 875 shares during the quarter. Principle Wealth Partners LLC's holdings in Tesla were worth $4,935,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Cherry Tree Wealth Management LLC lifted its position in Tesla by 86.3% in the first 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 boosted its position in shares of Tesla by 79.2% during 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 in the last quarter. Newton One Investments LLC increased its holdings 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 valued at $27,000 after purchasing an additional 75 shares in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Tesla in the 1st quarter valued at about $27,000. Finally, True Wealth Design LLC increased its holdings 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 valued at $28,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, the chief financial officer directly owned 1,950 shares in the company, valued at $664,989. The trade was a 75.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director owned 85,000 shares in the company, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Cantor Fitzgerald reduced their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Robert W. Baird reiterated a "neutral" rating and set a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the company a "buy" rating in a research report on Thursday, April 24th. Canaccord Genuity Group lifted their price target on shares of Tesla from $303.00 to $333.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Guggenheim reiterated a "sell" rating and set a $175.00 price target on shares of Tesla in a research report on Wednesday. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $302.75.

Tesla Stock Up 3.5%

NASDAQ TSLA traded up $10.76 during mid-day trading on Friday, hitting $316.06. The company's stock had a trading volume of 147,437,834 shares, compared to its average volume of 90,285,424. The company's 50 day simple moving average is $324.70 and its 200 day simple moving average is $314.09. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a current ratio of 2.04, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 182.69, a PEG ratio of 12.00 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 7.98%. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter last year, the business posted $0.52 earnings per share. Tesla's revenue was down 11.8% on a year-over-year basis. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share 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.