Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Destiny Wealth Partners LLC

Destiny Wealth Partners LLC boosted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 25.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,840 shares of the electric vehicle producer's stock after acquiring an additional 2,391 shares during the quarter. Destiny Wealth Partners LLC's holdings in Tesla were worth $3,068,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TSLA. Norges Bank acquired a new position in Tesla in the fourth quarter valued at $14,420,248,000. FMR LLC raised its position in Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC raised its position in Tesla by 27,378.6% in the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC raised its position in Tesla by 36,790.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock valued at $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in Tesla by 4,963.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,950 shares in the company, valued at $682,500. This represents a 33.90% decrease in their ownership of the stock. 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 the company's stock in a transaction that occurred 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 completion of the sale, the director now owns 85,000 shares of the company's stock, valued at $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 815,945 shares of company stock worth $273,059,215 over the last ninety days. Company insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on TSLA shares. Barclays cut their price objective on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research report on Monday, April 21st. Mizuho raised their price objective on Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Bank of America cut their price target on Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Wedbush set a $500.00 price target on Tesla in a research note on Thursday. Finally, Guggenheim reiterated a "sell" rating and issued a $170.00 price target on shares of Tesla in a research note on Thursday, April 24th. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $294.27.

Tesla Stock Performance

Shares of NASDAQ TSLA opened at $295.14 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The stock has a 50 day simple moving average of $292.17 and a 200-day simple moving average of $333.51. The company has a market cap of $950.63 billion, a PE ratio of 144.68, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the prior year, the firm posted $0.45 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.

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