9,017 Shares in Tesla, Inc. (NASDAQ:TSLA) Bought by Parkshore Wealth Management Inc.

Parkshore Wealth Management Inc. bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,017 shares of the electric vehicle producer's stock, valued at approximately $3,641,000. Tesla comprises 2.2% of Parkshore Wealth Management Inc.'s portfolio, making the stock its 12th largest position.

Several other institutional investors have also added to or reduced their stakes in TSLA. Marshall & Sterling Wealth Advisors Inc. acquired a new position in Tesla in the fourth quarter valued at approximately $39,000. Public Employees Retirement Association of Colorado lifted its holdings in shares of Tesla by 16.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 869,077 shares of the electric vehicle producer's stock worth $350,968,000 after purchasing an additional 122,502 shares in the last quarter. Quarry LP lifted its holdings in shares of Tesla by 102.3% in the 4th quarter. Quarry LP now owns 1,394 shares of the electric vehicle producer's stock worth $563,000 after purchasing an additional 705 shares in the last quarter. Mission Creek Capital Partners Inc. lifted its holdings in shares of Tesla by 3.5% in the 4th quarter. Mission Creek Capital Partners Inc. now owns 2,280 shares of the electric vehicle producer's stock worth $921,000 after purchasing an additional 78 shares in the last quarter. Finally, Leslie Global Wealth LLC bought a new position in shares of Tesla in the 4th quarter worth $544,000. 66.20% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 7,000 shares of Tesla stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $383.11, for a total transaction of $2,681,770.00. Following the completion of the transaction, the chief financial officer now directly owns 108,965 shares in the company, valued at approximately $41,745,581.15. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the transaction, the director now owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. The trade was a 10.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 374,228 shares of company stock worth $123,791,123. 20.70% of the stock is currently owned by corporate insiders.

Tesla Trading Down 3.4 %

NASDAQ TSLA traded down $9.87 during trading on Wednesday, hitting $282.16. The company had a trading volume of 128,089,451 shares, compared to its average volume of 95,653,420. 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 one year low of $167.41 and a one year high of $488.54. The company has a market cap of $908.82 billion, a price-to-earnings ratio of 138.31, a price-to-earnings-growth ratio of 5.86 and a beta of 2.58. The company's fifty day moving average is $261.24 and its 200-day moving average is $323.87.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 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 company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the company posted $0.45 earnings per share. On average, sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analyst Weigh In

TSLA has been the topic of a number of recent research reports. Benchmark reiterated a "buy" rating and issued a $350.00 target price on shares of Tesla in a report on Wednesday, April 23rd. The Goldman Sachs Group reiterated a "neutral" rating on shares of Tesla in a report on Tuesday, April 22nd. Barclays dropped their price objective on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. TD Cowen upgraded Tesla from a "hold" rating to a "buy" rating and raised their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, Needham & Company LLC restated a "hold" rating on shares of Tesla in a research note on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $287.46.

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.