Variant Private Wealth LLC Raises Holdings in Tesla, Inc. (NASDAQ:TSLA)

Variant Private Wealth LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 49.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,987 shares of the electric vehicle producer's stock after purchasing an additional 3,304 shares during the period. Tesla makes up approximately 2.8% of Variant Private Wealth LLC's investment portfolio, making the stock its 15th biggest position. Variant Private Wealth LLC's holdings in Tesla were worth $2,588,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Adero Partners LLC grew its position in shares of Tesla by 22.6% during the first quarter. Adero Partners LLC now owns 18,813 shares of the electric vehicle producer's stock valued at $4,876,000 after purchasing an additional 3,472 shares in the last quarter. Sowell Financial Services LLC lifted its holdings in shares of Tesla by 10.8% in the 1st quarter. Sowell Financial Services LLC now owns 32,620 shares of the electric vehicle producer's stock valued at $8,454,000 after acquiring an additional 3,182 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Tesla by 4.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 329,839 shares of the electric vehicle producer's stock valued at $85,481,000 after acquiring an additional 15,055 shares during the last quarter. M.E. Allison & CO. Inc. lifted its holdings in shares of Tesla by 15.5% in the 1st quarter. M.E. Allison & CO. Inc. now owns 844 shares of the electric vehicle producer's stock valued at $219,000 after acquiring an additional 113 shares during the last quarter. Finally, Pflug Koory LLC lifted its holdings in shares of Tesla by 370.4% in the 1st quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer's stock valued at $33,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TSLA. Guggenheim reaffirmed a "sell" rating and issued a $170.00 price target on shares of Tesla in a report on Thursday, April 24th. Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday, June 9th. Raymond James downgraded shares of Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Glj Research reissued a "sell" rating and issued a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. Finally, Morgan Stanley reissued an "overweight" rating and issued a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Tesla currently has an average rating of "Hold" and a consensus target price of $293.67.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 2,564 shares of Tesla stock in a transaction on Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the completion of the sale, the chief financial officer now directly owns 5,924 shares in the company, valued at approximately $1,692,546.04. The trade was a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Gebbia acquired 4,000 shares of the stock in a transaction dated Thursday, April 24th. The shares were bought at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the purchase, the director now directly owns 4,111 shares of the company's stock, valued at approximately $1,053,690.41. This trade represents a 3,603.60% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 818,509 shares of company stock valued at $273,791,775. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

NASDAQ TSLA opened at $325.31 on Monday. The firm's fifty day simple moving average is $299.39 and its two-hundred day simple moving average is $332.88. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $177.00 and a 12-month high of $488.54. The firm has a market capitalization of $1.05 trillion, a P/E ratio of 159.47, a P/E/G ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the firm posted $0.45 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal 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.

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