Tesla, Inc. (NASDAQ:TSLA) Shares Bought by TruNorth Capital Management LLC

TruNorth Capital Management LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 3,902.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,801 shares of the electric vehicle producer's stock after purchasing an additional 1,756 shares during the quarter. TruNorth Capital Management LLC's holdings in Tesla were worth $467,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TSLA. Eagle Capital Management LLC purchased a new position in Tesla during the 4th quarter worth approximately $331,000. Brighton Jones LLC raised its position in Tesla by 11.8% during the 4th quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock worth $35,509,000 after buying an additional 9,293 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock worth $2,147,000 after buying an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new position in Tesla during the 4th quarter worth approximately $346,000. Finally, Highview Capital Management LLC DE purchased a new position in Tesla during the 4th quarter worth approximately $2,367,000. 66.20% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TSLA. HSBC reaffirmed a "reduce" rating and set a $120.00 price objective on shares of Tesla in a research note on Thursday, July 3rd. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Guggenheim reaffirmed a "sell" rating and set a $175.00 price objective on shares of Tesla in a research note on Tuesday, July 8th. Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research note on Tuesday, June 10th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 23rd. 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. According to data from MarketBeat, Tesla currently has an average rating of "Hold" and an average target price of $300.19.

Tesla Trading Up 1.2%

Shares of NASDAQ TSLA traded up $3.64 during trading on Friday, hitting $313.51. 78,861,329 shares of the company were exchanged, compared to its average volume of 99,596,575. Tesla, Inc. has a 12-month low of $182.00 and a 12-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 company has a fifty day moving average price of $322.60 and a 200-day moving average price of $320.26. The firm has a market capitalization of $1.01 trillion, a PE ratio of 172.26, a P/E/G ratio of 9.33 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the prior year, the firm earned $0.45 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity at Tesla

In related news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the sale, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. 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 quarter. Corporate 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.