Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by AM Investment Strategies LLC

AM Investment Strategies LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 33.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,367 shares of the electric vehicle producer’s stock after acquiring an additional 8,541 shares during the period. Tesla comprises about 2.2% of AM Investment Strategies LLC’s holdings, making the stock its 11th biggest position. AM Investment Strategies LLC’s holdings in Tesla were worth $8,907,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cherry Tree Wealth Management LLC boosted its holdings 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 purchasing an additional 44 shares during the last quarter. First PREMIER Bank raised its position in shares of Tesla by 79.2% during the 1st 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 in the last quarter. Newton One Investments LLC boosted its holdings in Tesla by 250.0% in the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer’s stock worth $27,000 after purchasing an additional 75 shares during the period. Arcadia Investment Management Corp MI acquired a new position in Tesla in the first quarter worth $27,000. Finally, True Wealth Design LLC raised its position in shares of Tesla by 79.5% during 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 during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 6,000 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the sale, the director owned 85,000 shares in the company, valued at $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 835,509 shares of company stock worth $279,420,485. Company insiders own 20.70% of the company’s stock.

Tesla Stock Down 8.2%

Shares of NASDAQ:TSLA opened at $305.30 on Friday. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $983.36 billion, a price-to-earnings ratio of 176.47, a price-to-earnings-growth ratio of 12.63 and a beta of 2.39. The company has a 50 day moving average of $325.38 and a two-hundred day moving average of $315.19.

Tesla (NASDAQ:TSLA) last posted its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Tesla had a net margin of 6.54% and a return on equity of 8.11%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $23.18 billion. During the same quarter in the previous year, the business posted $0.52 earnings per share. The business’s quarterly revenue was down 11.8% compared to the same quarter last year. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on TSLA shares. Royal Bank Of Canada lowered their target price on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Bank of America lifted their price target on Tesla from $305.00 to $341.00 and gave the company a “neutral” rating in a research report on Monday. Guggenheim restated a “sell” rating and issued a $175.00 target price on shares of Tesla in a report on Wednesday. Wedbush restated an “outperform” rating and issued a $500.00 target price on shares of Tesla in a report on Tuesday. Finally, The Goldman Sachs Group decreased their target price on Tesla from $315.00 to $285.00 and set a “neutral” rating on the stock in a report on Friday, July 11th. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $301.26.

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.