Variant Private Wealth LLC Buys 3,304 Shares of Tesla, Inc. (NASDAQ:TSLA)

Variant Private Wealth LLC grew its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 49.4% during the first quarter, according to the company in its most recent filing with the Securities and 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 comprises approximately 2.8% of Variant Private Wealth LLC's investment portfolio, making the stock its 15th largest position. Variant Private Wealth LLC's holdings in Tesla were worth $2,588,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC bought a new stake in Tesla during the 4th quarter worth $56,600,000. Focus Financial Network Inc. grew its holdings in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after purchasing an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. increased its stake in shares of Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock valued at $1,150,000 after buying an additional 1,629 shares during the period. Harvard Management Co. Inc. bought a new position in Tesla in the 4th quarter valued at approximately $8,158,000. Finally, Vontobel Holding Ltd. boosted its position in Tesla by 23.0% during the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after buying an additional 60,342 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TSLA. Morgan Stanley reissued an "overweight" rating and issued a $410.00 price target on shares of Tesla in a research note on Friday, June 6th. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Argus reiterated a "hold" rating on shares of Tesla in a report on Monday, June 9th. Canaccord Genuity Group dropped their price target on Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $400.00 price objective on shares of Tesla in a research report on Tuesday, June 10th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $293.67.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of the business's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the sale, the director now directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 833,509 shares of company stock worth $278,648,925. Insiders own 20.70% of the company's stock.

Tesla Price Performance

Shares of TSLA stock traded up $5.70 during trading on Thursday, hitting $322.05. The company had a trading volume of 94,677,402 shares, compared to its average volume of 100,787,054. The stock's 50-day moving average is $303.42 and its two-hundred day moving average is $332.59. The stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 176.95, a price-to-earnings-growth ratio of 11.88 and a beta of 2.47. Tesla, Inc. has a 52 week low of $179.66 and a 52 week high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS 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 business earned $0.45 EPS. As a group, analysts predict that Tesla, Inc. will post 2.56 EPS 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.