Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Sovran Advisors LLC

Sovran Advisors LLC raised its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 29.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,391 shares of the electric vehicle producer's stock after acquiring an additional 3,752 shares during the quarter. Sovran Advisors LLC's holdings in Tesla were worth $3,956,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TSLA. Rinkey Investments lifted its position in shares of Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after buying an additional 29 shares during the last quarter. Bell Investment Advisors Inc raised its stake in Tesla by 1.3% during the fourth quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer's stock worth $945,000 after acquiring an additional 30 shares during the period. Pitti Group Wealth Management LLC raised its stake in Tesla by 2.2% during the fourth quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock worth $594,000 after acquiring an additional 31 shares during the period. True Wealth Design LLC lifted its holdings in Tesla by 79.5% in 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. Finally, Garrett Wealth Advisory Group LLC boosted its stake in Tesla by 2.4% in the fourth quarter. Garrett Wealth Advisory Group LLC now owns 1,401 shares of the electric vehicle producer's stock valued at $566,000 after acquiring an additional 33 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,390 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $285.58, for a total transaction of $32,096,336.20. Following the sale, the director now directly owns 85,000 shares of the company's stock, valued at $24,274,300. This represents a 56.94% 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 valued at $278,648,925 over the last three months. Insiders own 20.70% of the company's stock.

Tesla Trading Down 0.7%

Shares of NASDAQ:TSLA opened at $323.63 on Monday. 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 stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 177.82, a PEG ratio of 12.20 and a beta of 2.47. Tesla, Inc. has a 1-year low of $182.00 and a 1-year high of $488.54. The company has a 50 day moving average price of $314.93 and a 200 day moving average price of $329.21.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter last year, the company posted $0.45 EPS. On average, research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on TSLA. Baird R W downgraded Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Barclays dropped their target price 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. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. UBS Group increased their price objective on shares of Tesla from $190.00 to $215.00 and gave the stock a "sell" rating in a report on Monday, June 23rd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Ten equities 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $298.37.

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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