Crewe Advisors LLC Purchases 274 Shares of Tesla, Inc. (NASDAQ:TSLA)

Crewe Advisors LLC increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 0.6% during the first quarter, HoldingsChannel.com reports. The firm owned 44,230 shares of the electric vehicle producer’s stock after buying an additional 274 shares during the period. Tesla accounts for about 1.6% of Crewe Advisors LLC’s investment portfolio, making the stock its 16th largest holding. Crewe Advisors LLC’s holdings in Tesla were worth $11,463,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TSLA. Cherry Tree Wealth Management LLC grew its position in Tesla by 86.3% in the first quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank grew its position in Tesla by 79.2% in the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after acquiring an additional 42 shares during the period. Newton One Investments LLC grew its position in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock valued at $27,000 after acquiring an additional 75 shares during the period. True Wealth Design LLC boosted its stake in Tesla by 79.5% in the fourth 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. Finally, Horrell Capital Management Inc. boosted its stake in Tesla by 75.6% in the fourth 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. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 8.2%

Shares of Tesla stock opened at $348.68 on Tuesday. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The business has a 50-day moving average of $308.14 and a two-hundred day moving average of $331.42. The company has a market capitalization of $1.12 trillion, a P/E ratio of 191.58, a price-to-earnings-growth ratio of 12.05 and a beta of 2.47. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The business 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 earned $0.45 earnings per share. As a group, equities analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the stock a “buy” rating in a research note on Thursday, April 24th. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. Guggenheim reissued a “sell” rating and issued a $175.00 price objective on shares of Tesla in a research note on Monday. JPMorgan Chase & Co. reduced their price objective on Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $294.58.

Insiders Place Their Bets

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the transaction, the director now directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Gebbia acquired 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 24th. The shares were purchased at an average price of $256.31 per share, with a total value of $1,025,240.00. Following the completion of the acquisition, the director now owns 4,111 shares of the company’s stock, valued at $1,053,690.41. This represents a 3,603.60% increase in their position. The disclosure for this purchase can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 over the last ninety days. 20.70% of the stock is currently owned by corporate insiders.

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.