Tesla, Inc. (NASDAQ:TSLA) Stock Holdings Boosted by Convergence Financial LLC

Convergence Financial LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 33,863 shares of the electric vehicle producer's stock after purchasing an additional 4,998 shares during the quarter. Tesla comprises 1.7% of Convergence Financial LLC's portfolio, making the stock its 18th largest holding. Convergence Financial LLC's holdings in Tesla were worth $8,776,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TSLA. Cherry Tree Wealth Management LLC grew its holdings in shares of Tesla by 86.3% in the 1st 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 last quarter. First PREMIER Bank grew its holdings in shares of Tesla by 79.2% in the 1st 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 last quarter. Newton One Investments LLC grew its holdings in shares of Tesla by 250.0% in the 1st 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 last quarter. True Wealth Design LLC grew its holdings in shares of Tesla by 79.5% in the 4th 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, Horrell Capital Management Inc. grew its holdings in shares of 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 acquiring an additional 34 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Trading Down 0.7%

Tesla stock 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 business's 50-day simple moving average is $314.93 and its 200-day simple moving average is $329.21. The firm has a market capitalization of $1.04 trillion, a PE ratio of 177.82, a PEG ratio of 12.20 and a beta of 2.47. Tesla, Inc. has a 52 week low of $182.00 and a 52 week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TSLA. Cantor Fitzgerald decreased their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. UBS Group raised their target price on Tesla from $190.00 to $215.00 and gave the stock a "sell" rating in a research report on Monday, June 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a research report on Friday, March 28th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of Tesla in a research report on Friday, June 20th. Finally, TD Cowen raised Tesla from a "hold" rating to a "buy" rating and raised their target price for the stock from $180.00 to $388.00 in a research report on Friday, March 7th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $298.37.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $285.58, for a total transaction of $32,096,336.20. Following the transaction, the director now directly owns 85,000 shares in the company, valued at $24,274,300. The trade was a 56.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction dated 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 transaction, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock worth $278,648,925 over the last three months. 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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