Trek Financial LLC Has $6.20 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Trek Financial LLC boosted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 14.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,916 shares of the electric vehicle producer's stock after purchasing 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.

A number of other institutional investors have also recently bought and sold shares of the stock. Eagle Capital Management LLC acquired a new position in Tesla during the fourth quarter valued at approximately $331,000. Brighton Jones LLC lifted its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after buying an additional 931 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new position in shares of Tesla during the fourth quarter worth $346,000. Finally, Highview Capital Management LLC DE acquired a new position in shares of Tesla during the fourth quarter worth $2,367,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TSLA shares. William Blair cut shares of Tesla from an "outperform" rating to a "market perform" rating in a research report on Monday. Piper Sandler reissued an "overweight" rating and set a $400.00 target price on shares of Tesla in a research report on Tuesday, June 10th. Truist Financial set a $280.00 target price on shares of Tesla in a research report on Tuesday, April 22nd. Cantor Fitzgerald dropped their price target on shares of Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Barclays dropped their price target on shares of Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Ten analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $301.13.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,564 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the sale, the chief financial officer directly owned 5,924 shares of the company's stock, valued at $1,692,546.04. This represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 829,509 shares of company stock valued at $277,648,925. Corporate insiders own 20.70% of the company's stock.

Tesla Price Performance

NASDAQ TSLA traded down $1.93 on Wednesday, reaching $295.88. The company's stock had a trading volume of 75,143,508 shares, compared to its average volume of 100,727,258. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. 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 cap of $953.02 billion, a PE ratio of 162.57, a PEG ratio of 8.57 and a beta of 2.39. The firm's 50 day moving average is $321.21 and its two-hundred day moving average is $323.29.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same period in the previous year, the company posted $0.45 earnings per share. As a group, sell-side analysts predict 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.