Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Trek Financial LLC

Trek Financial LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,916 shares of the electric vehicle producer's stock after buying an additional 2,978 shares during the quarter. Trek Financial LLC's holdings in Tesla were worth $6,198,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the period. First PREMIER Bank lifted its stake in 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 buying an additional 42 shares during the period. Newton One Investments LLC lifted its stake in Tesla by 250.0% in 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 period. True Wealth Design LLC lifted its stake in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the period. Finally, Centennial Bank AR lifted its stake in Tesla by 833.3% in the first quarter. Centennial Bank AR now owns 112 shares of the electric vehicle producer's stock valued at $29,000 after buying an additional 100 shares during the period. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on TSLA shares. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Raymond James Financial cut Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Canaccord Genuity Group reissued a "buy" rating and issued a $303.00 target price on shares of Tesla in a research note on Monday, June 30th. Royal Bank Of Canada cut their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Finally, Truist Financial set a $280.00 price target on Tesla in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $300.19.

Insider Buying and Selling at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares in the company, valued at $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock valued at $279,420,485 over the last 90 days. 20.70% of the stock is owned by corporate insiders.

Tesla Stock Performance

TSLA traded up $3.64 on Friday, hitting $313.51. The company's stock had a trading volume of 78,842,161 shares, compared to its average volume of 100,306,186. The company's 50 day simple moving average is $322.07 and its 200-day simple moving average is $322.26. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.01 trillion, a P/E ratio of 172.26, a price-to-earnings-growth ratio of 8.80 and a beta of 2.39. 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 (EPS) 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 analysts' expectations of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the previous year, the company earned $0.45 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

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.