UNICOM Systems Inc. Has $89.64 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

UNICOM Systems Inc. lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 60.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 345,895 shares of the electric vehicle producer's stock after acquiring an additional 130,395 shares during the quarter. Tesla accounts for approximately 18.2% of UNICOM Systems Inc.'s portfolio, making the stock its largest holding. UNICOM Systems Inc.'s holdings in Tesla were worth $89,642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its stake in shares of Tesla by 86.3% during the first 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 period. First PREMIER Bank boosted its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after buying an additional 42 shares in the last quarter. Newton One Investments LLC lifted its holdings in shares of Tesla by 250.0% in the first 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 stake in shares of Tesla in the first quarter valued at about $27,000. Finally, True Wealth Design LLC lifted its holdings in shares of Tesla by 79.5% in the fourth 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. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 0.7%

Shares of TSLA traded down $2.26 during midday trading on Thursday, hitting $319.41. The company had a trading volume of 73,650,109 shares, compared to its average volume of 98,950,144. The company's 50 day moving average price is $325.64 and its 200 day moving average price is $317.81. The stock has a market cap of $1.03 trillion, a price-to-earnings ratio of 175.50, a PEG ratio of 9.80 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 quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results 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 company had revenue of $19.34 billion during the quarter, compared to the consensus estimate 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 firm posted $0.45 EPS. On average, equities research analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In other news, Director Kimbal Musk sold 91,588 shares of the business'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 completion of the sale, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director directly owned 855,394 shares of the company's stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 835,509 shares of company stock worth $279,420,485 over the last quarter. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. Morgan Stanley reissued an "overweight" rating and set a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Barclays cut their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Finally, Benchmark reaffirmed a "buy" rating and set a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $300.19.

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.