Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Pennsylvania Capital Management Inc. ADV

Pennsylvania Capital Management Inc. ADV increased its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 198.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,660 shares of the electric vehicle producer's stock after acquiring an additional 4,427 shares during the period. Tesla makes up about 0.6% of Pennsylvania Capital Management Inc. ADV's investment portfolio, making the stock its 26th largest position. Pennsylvania Capital Management Inc. ADV's holdings in Tesla were worth $1,726,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TSLA. Cherry Tree Wealth Management LLC grew its holdings in 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 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. 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. Finally, Horrell Capital Management Inc. increased its stake in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president now owns 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 833,509 shares of company stock worth $278,648,925 over the last three months. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TSLA. Canaccord Genuity Group dropped their price target on Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Barclays dropped their price target on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. BNP Paribas set a $137.00 price target on Tesla and gave the stock an "underperform" rating in a research note on Wednesday, April 16th. Oppenheimer reissued a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, Cantor Fitzgerald lowered their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $293.67.

Tesla Stock Up 0.0%

TSLA opened at $322.16 on Monday. The business has a 50 day moving average price of $306.22 and a 200 day moving average price of $331.70. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The firm has a market cap of $1.04 trillion, a P/E ratio of 177.01, a price-to-earnings-growth ratio of 12.05 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter last year, the firm posted $0.45 earnings per share. Research analysts forecast that Tesla, Inc. will post 2.56 EPS 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.

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