Swisher Financial Concepts Inc. Increases Holdings in Tesla, Inc. (NASDAQ:TSLA)

Swisher Financial Concepts Inc. raised its holdings in Tesla, Inc. (NASDAQ:TSLA) by 66.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,156 shares of the electric vehicle producer’s stock after purchasing an additional 863 shares during the quarter. Swisher Financial Concepts Inc.’s holdings in Tesla were worth $559,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. McLean Asset Management Corp raised its position in Tesla by 144.5% in the first quarter. McLean Asset Management Corp now owns 2,342 shares of the electric vehicle producer’s stock valued at $607,000 after purchasing an additional 1,384 shares during the period. Fulton Bank N.A. raised its position in Tesla by 10.9% in the first quarter. Fulton Bank N.A. now owns 28,680 shares of the electric vehicle producer’s stock valued at $7,433,000 after purchasing an additional 2,815 shares during the period. ST Germain D J Co. Inc. raised its position in Tesla by 40.8% in the first quarter. ST Germain D J Co. Inc. now owns 1,773 shares of the electric vehicle producer’s stock valued at $459,000 after purchasing an additional 514 shares during the period. Merit Financial Group LLC raised its position in Tesla by 10.6% in the first quarter. Merit Financial Group LLC now owns 58,938 shares of the electric vehicle producer’s stock valued at $15,274,000 after purchasing an additional 5,627 shares during the period. Finally, Milestone Asset Management LLC raised its position in Tesla by 52.2% in the first quarter. Milestone Asset Management LLC now owns 9,945 shares of the electric vehicle producer’s stock valued at $2,577,000 after purchasing an additional 3,409 shares during the period. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, Director Joseph Gebbia purchased 4,000 shares of the business’s stock in a transaction dated 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 completion of the purchase, the director now directly owns 4,111 shares of the company’s stock, valued at $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Vaibhav Taneja sold 2,672 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $268.73, for a total value of $718,046.56. Following the sale, the chief financial officer now owns 26,950 shares of the company’s stock, valued at $7,242,273.50. This trade represents a 9.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 866,393 shares of company stock worth $284,570,654. 20.70% of the stock is owned by insiders.

Tesla Trading Down 1.1%

NASDAQ:TSLA opened at $342.69 on Tuesday. The stock has a 50-day simple moving average of $288.33 and a 200-day simple moving average of $334.29. The stock has a market cap of $1.10 trillion, a P/E ratio of 167.99, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 1 year low of $167.41 and a 1 year high of $488.54. 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) 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). The firm had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the company earned $0.45 earnings per share. As a group, analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on TSLA shares. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a “buy” rating in a report on Thursday, April 24th. HSBC cut their price objective on Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a report on Thursday, March 27th. Barclays cut their price objective on Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Finally, Cantor Fitzgerald cut their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $293.97.

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.