Farmers & Merchants Investments Inc. Buys 11,047 Shares of Tesla, Inc. (NASDAQ:TSLA)

Farmers & Merchants Investments Inc. raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 346.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,237 shares of the electric vehicle producer’s stock after acquiring an additional 11,047 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in Tesla were worth $3,690,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. True Wealth Design LLC boosted its position in shares of Tesla by 79.5% in 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 in the last quarter. Horrell Capital Management Inc. boosted its position in shares of Tesla by 75.6% in 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 in the last quarter. GS Investments Inc. boosted its position in shares of Tesla by 193.3% in 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 in the last quarter. Navigoe LLC acquired a new stake in shares of Tesla in the 4th quarter worth $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of Tesla in the 4th quarter worth $38,000. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. The Goldman Sachs Group lowered their price target on Tesla from $295.00 to $285.00 and set a “neutral” rating for the company in a research report on Friday, June 6th. Argus reaffirmed a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research report on Tuesday, March 18th. UBS Group lowered their price target on Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. Finally, Truist Financial set a $280.00 price target on Tesla in a research report on Tuesday, April 22nd. Ten investment 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. Based on data from MarketBeat, Tesla currently has a consensus rating of “Hold” and an average price target of $293.67.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now directly owns 26,950 shares in the company, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now owns 85,000 shares of the company’s stock, valued at $23,300,200. The trade was a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock worth $273,791,775 over the last ninety days. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

TSLA stock opened at $325.31 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business has a 50 day simple moving average of $299.39 and a 200-day simple moving average of $332.88. The firm has a market capitalization of $1.05 trillion, a PE ratio of 159.47, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1 year low of $177.00 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its quarterly 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 company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter last year, the company earned $0.45 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.