Tesla, Inc. (NASDAQ:TSLA) Stake Boosted by Vest Financial LLC

Vest Financial LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 73.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,934 shares of the electric vehicle producer's stock after buying an additional 8,868 shares during the quarter. Vest Financial LLC's holdings in Tesla were worth $5,425,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Wealth Group Ltd. purchased a new stake in shares of Tesla in the fourth quarter valued at $275,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Tesla in the fourth quarter valued at $1,361,000. Tallon Kerry Patrick purchased a new stake in shares of Tesla in the fourth quarter valued at $374,000. Eagle Capital Management LLC purchased a new stake in shares of Tesla in the fourth quarter valued at $331,000. Finally, Brighton Jones LLC lifted its holdings in shares of Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after purchasing an additional 9,293 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TSLA. Truist Financial set a $280.00 price objective on Tesla in a report on Tuesday, April 22nd. Wedbush set a $500.00 price objective on Tesla in a report on Thursday. Raymond James lowered Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Cantor Fitzgerald cut their price objective on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $294.27.

Tesla Stock Up 3.7%

NASDAQ TSLA opened at $295.14 on Friday. The stock has a fifty day moving average of $292.17 and a 200-day moving average of $333.62. The stock has a market capitalization of $950.63 billion, a P/E ratio of 144.68, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter last year, the company earned $0.45 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. The trade was a 10.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares of the company's stock, valued at $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 870,721 shares of company stock worth $286,248,728. Company insiders own 20.70% of the company's stock.

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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