Tesla, Inc. (NASDAQ:TSLA) Shares Bought by Zhang Financial LLC

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

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. grew its position in Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. grew its position in Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC purchased a new position in shares of Tesla in the 4th quarter valued at about $37,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Tesla in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $180.00 to $388.00 in a research note on Friday, March 7th. Canaccord Genuity Group cut their price objective on Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Cfra Research lowered Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Raymond James lowered Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $293.67.

Tesla Trading Up 1.9%

NASDAQ TSLA traded up $6.20 on Friday, reaching $325.31. The stock had a trading volume of 128,417,075 shares, compared to its average volume of 100,836,055. The firm has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 159.47, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a quick ratio of 1.61, a current ratio of 2.02 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 stock has a fifty day moving average price of $299.39 and a two-hundred day moving average price of $332.88.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) 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 analysts' expectations of $22.93 billion. During the same period in the previous year, the firm earned $0.45 EPS. As a group, sell-side analysts forecast that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In related news, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the transaction, the director now owns 85,000 shares of the company's stock, valued at $23,300,200. This represents a 56.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 855,394 shares in the company, valued at $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 818,509 shares of company stock valued at $273,791,775. 20.70% of the stock is currently owned by company insiders.

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.