Zhang Financial LLC Purchases 4,875 Shares of Tesla, Inc. (NASDAQ:TSLA)

Zhang Financial LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 80.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,927 shares of the electric vehicle producer's stock after purchasing an additional 4,875 shares during the quarter. Zhang Financial LLC's holdings in Tesla were worth $2,832,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TSLA. Vanguard Group Inc. boosted its holdings in Tesla by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 243,193,181 shares of the electric vehicle producer's stock valued at $98,211,134,000 after purchasing an additional 3,571,793 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Tesla by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 61,011,604 shares of the electric vehicle producer's stock valued at $24,566,217,000 after purchasing an additional 1,655,203 shares in the last quarter. Norges Bank acquired a new stake in Tesla during the fourth quarter valued at approximately $14,420,248,000. FMR LLC boosted its holdings in Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after purchasing an additional 9,920,325 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Trading Down 2.2%

NASDAQ:TSLA traded down $7.32 during mid-day trading on Thursday, hitting $319.11. The company had a trading volume of 104,392,972 shares, compared to its average volume of 100,720,943. The firm has a market cap of $1.03 trillion, a P/E ratio of 156.43, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a fifty-two week low of $176.92 and a fifty-two week high of $488.54. The business's fifty day moving average is $295.60 and its two-hundred day moving average is $333.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. As a group, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Joseph Gebbia acquired 4,000 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was acquired at an average price of $256.31 per share, for a total transaction of $1,025,240.00. Following the transaction, the director now directly owns 4,111 shares in the company, valued at approximately $1,053,690.41. This represents a 3,603.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 3,000 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $350.11, for a total transaction of $1,050,330.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $9,435,464.50. This represents a 10.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 818,509 shares of company stock valued at $273,791,775 in the last 90 days. 20.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Argus reaffirmed a "hold" rating on shares of Tesla in a report on Monday. Robert W. Baird reissued a "neutral" rating and issued a $320.00 target price on shares of Tesla in a report on Monday. Cowen raised Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Benchmark reissued a "buy" rating and issued a $350.00 target price on shares of Tesla in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced their target price on Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a report on Friday, March 14th. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $293.67.

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.