Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by CORDA Investment Management LLC.

CORDA Investment Management LLC. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 26.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,695 shares of the electric vehicle producer's stock after acquiring an additional 1,383 shares during the period. CORDA Investment Management LLC.'s holdings in Tesla were worth $1,735,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TSLA. Eagle Capital Management LLC purchased a new position in Tesla in the 4th quarter worth about $331,000. Brighton Jones LLC increased its stake in Tesla by 11.8% in the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in Tesla by 21.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after purchasing an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new position in Tesla in the 4th quarter worth about $346,000. Finally, Highview Capital Management LLC DE purchased a new position in Tesla in the 4th quarter worth about $2,367,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated 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 completion of the sale, the director directly owned 85,000 shares in the company, valued at $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The stock was 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 $522,940,195.80. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 829,509 shares of company stock valued at $277,648,925 in the last ninety days. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. Cantor Fitzgerald decreased their price objective on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Stifel Nicolaus set a $450.00 price target on Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Piper Sandler reiterated an "overweight" rating and set a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. HSBC reiterated a "reduce" rating and set a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. Finally, BNP Paribas set a $137.00 price target on Tesla and gave the company an "underperform" rating in a report on Wednesday, April 16th. 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $301.13.

Tesla Trading Up 1.3%

NASDAQ TSLA opened at $297.81 on Wednesday. The stock has a 50-day simple moving average of $321.21 and a 200 day simple moving average of $323.29. The company has a market capitalization of $959.23 billion, a PE ratio of 163.63, a P/E/G ratio of 8.57 and a beta of 2.39. 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, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the prior year, the company posted $0.45 EPS. Research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla 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.

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