Fulcrum Equity Management Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Fulcrum Equity Management boosted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 33.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,467 shares of the electric vehicle producer’s stock after acquiring an additional 364 shares during the period. Fulcrum Equity Management’s holdings in Tesla were worth $380,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Rinkey Investments lifted its holdings in Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock valued at $347,000 after purchasing an additional 29 shares in the last quarter. Pitti Group Wealth Management LLC lifted its holdings in Tesla by 2.2% during the fourth quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer’s stock valued at $594,000 after purchasing an additional 31 shares in the last quarter. True Wealth Design LLC lifted its holdings in Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. lifted its holdings in Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares in the last quarter. Finally, Aldebaran Financial Inc. lifted its holdings in Tesla by 3.1% during the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer’s stock valued at $490,000 after purchasing an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Tesla Trading Up 1.2%

Shares of TSLA opened at $313.51 on Friday. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The company has a market cap of $1.01 trillion, a P/E ratio of 172.26, a P/E/G ratio of 9.22 and a beta of 2.39. 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 company’s fifty day simple moving average is $322.60 and its 200-day simple moving average is $321.24.

Tesla (NASDAQ:TSLA) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The firm had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same period in the prior year, the company posted $0.45 EPS. As a group, analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Argus reaffirmed a “hold” rating on shares of Tesla in a report on Monday, June 9th. Morgan Stanley reissued an “overweight” rating and issued a $410.00 target price on shares of Tesla in a report on Friday, June 6th. Barclays lowered their target price on shares of Tesla from $325.00 to $275.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. UBS Group set a $290.00 target price on shares of Tesla in a report on Monday, June 30th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $303.00 target price on shares of Tesla in a report on Monday, June 30th. Ten investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $300.19.

Insider Activity

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 2,000 shares of the company’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer owned 5,924 shares in the company, valued at approximately $1,777,200. The trade was a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 835,509 shares of company stock worth $279,420,485. Insiders own 20.70% of the company’s stock.

About Tesla

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.