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

Larson Financial Group LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 81.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,190 shares of the electric vehicle producer’s stock after acquiring an additional 13,968 shares during the period. Larson Financial Group LLC’s holdings in Tesla were worth $8,083,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings 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 buying an additional 31 shares in the last quarter. Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% during the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. grew its holdings in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after buying an additional 58 shares in the last quarter. Navigoe LLC purchased a new stake in shares of Tesla during the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Tesla during the fourth quarter worth about $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent research reports. Canaccord Genuity Group reiterated a “buy” rating and set a $303.00 price target on shares of Tesla in a report on Monday, June 30th. Truist Financial set a $280.00 target price on shares of Tesla in a report on Tuesday, April 22nd. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. The Goldman Sachs Group lowered their target price on shares of Tesla from $315.00 to $285.00 and set a “neutral” rating for the company in a report on Friday. Finally, Robert W. Baird restated a “neutral” rating and issued a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $300.19.

Tesla Price Performance

TSLA stock opened at $316.90 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a one year low of $182.00 and a one year high of $488.54. The firm has a market capitalization of $1.02 trillion, a PE ratio of 174.12, a P/E/G ratio of 9.33 and a beta of 2.39. The firm has a 50-day moving average of $323.33 and a two-hundred day moving average of $318.52.

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 return on equity of 9.02% and a net margin of 6.66%. During the same period last year, the company earned $0.45 earnings per share. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the transaction, the director directly owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock valued at $279,420,485 over the last ninety days. 20.70% of the stock is owned by company 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.