Triumph Capital Management Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Triumph Capital Management increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 59.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,343 shares of the electric vehicle producer's stock after purchasing an additional 1,993 shares during the quarter. Triumph Capital Management's holdings in Tesla were worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Susquehanna Fundamental Investments LLC bought a new position in Tesla in the fourth quarter valued at about $56,600,000. Means Investment CO. Inc. lifted its holdings in Tesla by 37.7% in the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock valued at $5,984,000 after acquiring an additional 6,323 shares during the period. Focus Financial Network Inc. lifted its holdings in Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock valued at $5,823,000 after acquiring an additional 670 shares during the period. IFM Investors Pty Ltd lifted its holdings in Tesla by 8.5% in the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock valued at $153,436,000 after acquiring an additional 46,087 shares during the period. Finally, Harvard Management Co. Inc. bought a new position in Tesla in the fourth quarter valued at about $8,158,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Roth Mkm lowered their target price on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. Morgan Stanley reaffirmed an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Wedbush reaffirmed an "outperform" rating and issued a $500.00 price objective on shares of Tesla in a research note on Tuesday. Finally, Robert W. Baird reaffirmed a "neutral" rating and issued a $320.00 price objective on shares of Tesla in a research note on Monday, June 9th. Ten analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $302.75.

Insider Activity at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. 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 stock in a transaction that occurred on 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 transaction, the senior vice president owned 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock valued at $279,420,485 in the last ninety days. 20.70% of the stock is currently owned by company insiders.

Tesla Stock Performance

NASDAQ:TSLA traded up $10.76 during midday trading on Friday, hitting $316.06. The company's stock had a trading volume of 147,437,834 shares, compared to its average volume of 90,285,424. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The firm's 50 day moving average is $324.70 and its 200-day moving average is $314.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.04 and a quick ratio of 1.54. The firm has a market cap of $1.02 trillion, a P/E ratio of 182.69, a P/E/G ratio of 11.59 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $22.50 billion during the quarter, compared to analysts' expectations of $23.18 billion. Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.52 EPS. Equities analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.