Sound Income Strategies LLC Acquires 1,395 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sound Income Strategies LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 17,755 shares of the electric vehicle producer's stock after acquiring an additional 1,395 shares during the period. Sound Income Strategies LLC's holdings in Tesla were worth $4,601,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of TSLA. True Wealth Design LLC grew its position in shares of 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 last quarter. Horrell Capital Management Inc. grew its position in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after acquiring an additional 34 shares during the last quarter. GS Investments Inc. grew its position in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC bought a new position in shares of Tesla during the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust bought a new position in Tesla in the 4th quarter valued at about $38,000. Institutional investors own 66.20% of the company's stock.

Tesla Trading Up 1.9%

Shares of TSLA traded up $6.20 during midday trading on Friday, hitting $325.31. The stock had a trading volume of 128,417,075 shares, compared to its average volume of 100,836,055. Tesla, Inc. has a fifty-two week low of $177.00 and a fifty-two week high of $488.54. The business has a 50-day simple moving average of $299.39 and a two-hundred day simple moving average of $332.88. The firm has a market cap of $1.05 trillion, a P/E ratio of 159.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The firm had revenue of $19.34 billion during 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 previous year, the business earned $0.45 earnings per share. As a group, equities analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on TSLA shares. The Goldman Sachs Group decreased their target price on shares of Tesla from $295.00 to $285.00 and set a "neutral" rating for the company in a research report on Friday, June 6th. JPMorgan Chase & Co. decreased their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Piper Sandler reiterated an "overweight" rating and issued a $400.00 target price on shares of Tesla in a research report on Tuesday. HSBC decreased their target price on shares of Tesla from $165.00 to $130.00 and set a "reduce" rating for the company in a research report on Thursday, March 27th. Finally, Canaccord Genuity Group decreased their target price on shares of Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $293.67.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. This represents a 12.92% 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 link. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the sale, the director now directly 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 818,509 shares of company stock valued at $273,791,775 over the last three months. 20.70% of the stock is owned by corporate insiders.

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.