Transcend Capital Advisors LLC Acquires 2,550 Shares of Tesla, Inc. (NASDAQ:TSLA)

Transcend Capital Advisors LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 15.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,849 shares of the electric vehicle producer's stock after purchasing an additional 2,550 shares during the quarter. Transcend Capital Advisors LLC's holdings in Tesla were worth $4,885,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TSLA. Rinkey Investments boosted its holdings in shares of Tesla by 3.5% during the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock valued at $347,000 after acquiring an additional 29 shares in the last quarter. Ndwm LLC boosted its holdings in shares of Tesla by 0.8% during the 4th quarter. Ndwm LLC now owns 3,563 shares of the electric vehicle producer's stock valued at $1,439,000 after acquiring an additional 30 shares in the last quarter. Bell Investment Advisors Inc boosted its holdings in shares of Tesla by 1.3% during the 4th quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer's stock valued at $945,000 after acquiring an additional 30 shares in the last quarter. Pitti Group Wealth Management LLC boosted its holdings in shares of Tesla by 2.2% during the 4th quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock valued at $594,000 after acquiring an additional 31 shares in the last quarter. Finally, True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 66.20% of the company's stock.

Tesla Price Performance

TSLA stock opened at $323.63 on Friday. The company has a market capitalization of $1.04 trillion, a P/E ratio of 177.82, a price-to-earnings-growth ratio of 12.18 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The business has a 50-day simple moving average of $314.93 and a two-hundred day simple moving average of $330.48.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its 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 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 analysts' expectations of $22.93 billion. During the same quarter in the previous year, the firm earned $0.45 EPS. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction that occurred on 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 sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. The trade was a 12.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla 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 directly owns 855,394 shares in the company, valued at $305,632,276.20. This trade represents 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. Insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Morgan Stanley reissued an "overweight" rating and set a $410.00 price objective on shares of Tesla in a report on Friday, June 6th. Mizuho raised their price objective on Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Robert W. Baird reissued a "neutral" rating and set a $320.00 price objective on shares of Tesla in a report on Monday, June 9th. Raymond James Financial lowered Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Finally, Cantor Fitzgerald lowered 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. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $298.37.

Tesla 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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