Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Embree Financial Group

Embree Financial Group boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 46.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,243 shares of the electric vehicle producer’s stock after buying an additional 392 shares during the quarter. Embree Financial Group’s holdings in Tesla were worth $322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cherry Tree Wealth Management LLC grew its stake in Tesla by 86.3% in the 1st 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 lifted its holdings in Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after purchasing an additional 42 shares in the last quarter. Newton One Investments LLC grew its position in shares of 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 purchasing an additional 75 shares during the period. True Wealth Design LLC increased its stake in shares of Tesla by 79.5% during 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. raised its position in shares of Tesla by 75.6% during 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 during the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TSLA shares. TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Wedbush reaffirmed an “outperform” rating and issued a $500.00 price target on shares of Tesla in a research note on Friday, June 20th. Truist Financial set a $280.00 price objective on Tesla in a research note on Tuesday, April 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $400.00 target price on shares of Tesla in a research note on Tuesday, June 10th. Finally, Roth Mkm reduced their target price on shares of Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $294.58.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the transaction, the senior vice president now owns 67,600 shares of the company’s stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 833,509 shares of company stock worth $278,648,925. Insiders own 20.70% of the company’s stock.

Tesla Stock Down 2.4%

Shares of TSLA opened at $340.47 on Wednesday. The company’s 50-day moving average price is $309.87 and its 200 day moving average price is $331.48. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.10 trillion, a P/E ratio of 187.07, a price-to-earnings-growth ratio of 13.04 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last released 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). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period last year, the firm posted $0.45 earnings per share. On average, sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.