World Investment Advisors Acquires 1,998 Shares of Tesla, Inc. (NASDAQ:TSLA)

World Investment Advisors grew its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,536 shares of the electric vehicle producer's stock after buying an additional 1,998 shares during the quarter. World Investment Advisors' holdings in Tesla were worth $6,877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Cherry Tree Wealth Management LLC lifted its holdings in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 44 shares during the last quarter. First PREMIER Bank lifted its holdings in Tesla by 79.2% in the 1st quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC lifted its holdings in Tesla by 250.0% in the 1st quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares during the last quarter. Finally, Horrell Capital Management Inc. lifted its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after buying an additional 34 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Up 1.3%

Shares of NASDAQ TSLA traded up $3.87 during mid-day trading on Tuesday, reaching $297.81. 102,672,162 shares of the company's stock were exchanged, compared to its average volume of 100,828,712. The firm has a market capitalization of $959.23 billion, a price-to-earnings ratio of 163.63, a PEG ratio of 8.57 and a beta of 2.39. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $321.10 and a 200 day simple moving average of $323.46. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly 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). The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the prior year, the business earned $0.45 EPS. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the transaction, the director owned 85,000 shares of the company's stock, valued at approximately $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 829,509 shares of company stock valued at $277,648,925 over the last 90 days. Insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TSLA. Glj Research reiterated a "sell" rating and set a $19.05 price target (down from $24.86) on shares of Tesla in a report on Monday, April 21st. HSBC reiterated a "reduce" rating and set a $120.00 price target on shares of Tesla in a report on Thursday, July 3rd. William Blair lowered Tesla from an "outperform" rating to a "market perform" rating in a report on Monday. Cantor Fitzgerald cut their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Finally, Barclays cut their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $301.13.

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.