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

FAS Wealth Partners Inc. boosted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 22.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,031 shares of the electric vehicle producer's stock after buying an additional 911 shares during the period. FAS Wealth Partners Inc.'s holdings in Tesla were worth $1,304,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. 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 worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank grew 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 acquiring an additional 42 shares during the period. Newton One Investments LLC grew its holdings in Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Tesla during the first quarter worth about $27,000. Finally, True Wealth Design LLC grew its holdings in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares during the period. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the business's 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 transaction, the director owned 85,000 shares of the company's stock, valued at approximately $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vaibhav Taneja sold 6,000 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the transaction, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 835,509 shares of company stock valued at $279,420,485. Insiders own 20.70% of the company's stock.

Tesla Stock Performance

TSLA opened at $329.65 on Friday. The stock has a market cap of $1.06 trillion, a PE ratio of 181.13, a P/E/G ratio of 12.56 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 1 year low of $182.00 and a 1 year high of $488.54. The stock's 50 day simple moving average is $326.27 and its 200-day simple moving average is $316.70.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Canaccord Genuity Group reissued a "buy" rating and issued a $303.00 price target on shares of Tesla in a research note on Monday, June 30th. Benchmark reissued a "buy" rating and issued a $475.00 price target (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Wedbush reissued an "outperform" rating and issued a $500.00 price target on shares of Tesla in a research note on Tuesday, July 8th. Raymond James Financial cut Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Finally, Mizuho dropped their price target on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Tesla presently has an average rating of "Hold" and an average target price 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.

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