Tesla, Inc. (NASDAQ:TSLA) Stake Lifted by Uniting Wealth Partners LLC

Uniting Wealth Partners LLC raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 71.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,167 shares of the electric vehicle producer's stock after buying an additional 905 shares during the quarter. Uniting Wealth Partners LLC's holdings in Tesla were worth $562,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cherry Tree Wealth Management LLC boosted its stake in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank increased its stake in shares of Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after purchasing an additional 42 shares during the period. Newton One Investments LLC raised its holdings in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock valued at $27,000 after buying an additional 75 shares during the last quarter. True Wealth Design LLC boosted 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 buying an additional 31 shares during the period. Finally, Horrell Capital Management Inc. grew its holdings 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 buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 66.20% of the company's stock.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $323.63 on Friday. The company has a market cap of $1.04 trillion, a P/E ratio of 177.82, a price-to-earnings-growth ratio of 12.10 and a beta of 2.47. The company's fifty day moving average is $314.93 and its two-hundred day moving average is $329.82. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly 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). The business 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 period in the previous year, the firm posted $0.45 earnings per share. Equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director now owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock worth $278,648,925 in the last 90 days. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

TSLA has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. Bank of America cut their price objective on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Oppenheimer reissued a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla currently 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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