Clarus Wealth Advisors Has $1.27 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Clarus Wealth Advisors lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 41.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,674 shares of the electric vehicle producer’s stock after buying an additional 1,372 shares during the period. Clarus Wealth Advisors’ holdings in Tesla were worth $1,272,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TSLA. Norges Bank acquired a new stake in Tesla during the fourth quarter worth approximately $14,420,248,000. FMR LLC increased its holdings in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer’s stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the period. GAMMA Investing LLC increased its holdings in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer’s stock worth $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Strategic Financial Concepts LLC increased its holdings in shares of Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer’s stock worth $3,497,526,000 after purchasing an additional 8,637,195 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer’s stock worth $2,356,288,000 after purchasing an additional 5,719,466 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Down 1.1%

Tesla stock opened at $342.69 on Tuesday. The firm has a 50 day simple moving average of $288.33 and a 200 day simple moving average of $334.29. 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 1-year low of $167.41 and a 1-year high of $488.54. The firm has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 167.99, a P/E/G ratio of 5.86 and a beta of 2.43.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data 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). The company had revenue of $19.34 billion for the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same period last year, the company posted $0.45 EPS. On average, analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

TSLA has been the topic of a number of recent analyst reports. Canaccord Genuity Group decreased their price objective on shares of Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Barclays decreased their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Finally, BNP Paribas set a $137.00 target price on shares of Tesla and gave the stock an “underperform” rating in a research note on Wednesday, April 16th. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $293.97.

Insider Buying and Selling

In other Tesla news, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at $7,242,273.50. This represents a 9.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the company’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director now owns 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 866,393 shares of company stock valued at $284,570,654. Corporate insiders own 20.70% of the company’s stock.

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.