Atlas Private Wealth Advisors Raises Stake in Tesla, Inc. (NASDAQ:TSLA)

Atlas Private Wealth Advisors boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.9% during the 1st quarter, HoldingsChannel reports. The firm owned 11,661 shares of the electric vehicle producer’s stock after purchasing an additional 851 shares during the period. Atlas Private Wealth Advisors’ holdings in Tesla were worth $3,022,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of TSLA. Cornell Pochily Investment Advisors Inc. boosted its holdings in shares of Tesla by 9.8% in the first quarter. Cornell Pochily Investment Advisors Inc. now owns 3,997 shares of the electric vehicle producer’s stock valued at $1,036,000 after acquiring an additional 358 shares in the last quarter. Sound Income Strategies LLC boosted its holdings in shares of Tesla by 8.5% in the first quarter. Sound Income Strategies LLC now owns 17,755 shares of the electric vehicle producer’s stock valued at $4,601,000 after acquiring an additional 1,395 shares in the last quarter. Foster Victor Wealth Advisors LLC boosted its holdings in shares of Tesla by 18.6% in the first quarter. Foster Victor Wealth Advisors LLC now owns 6,597 shares of the electric vehicle producer’s stock valued at $1,664,000 after acquiring an additional 1,034 shares in the last quarter. Pacific Sun Financial Corp boosted its holdings in shares of Tesla by 3.8% in the first quarter. Pacific Sun Financial Corp now owns 8,403 shares of the electric vehicle producer’s stock valued at $2,178,000 after acquiring an additional 307 shares in the last quarter. Finally, Aries Wealth Management boosted its holdings in Tesla by 7.9% during the first quarter. Aries Wealth Management now owns 1,000 shares of the electric vehicle producer’s stock worth $259,000 after buying an additional 73 shares in the last quarter. 66.20% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TSLA has been the topic of a number of research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 23rd. Truist Financial set a $280.00 price objective on shares of Tesla in a report on Tuesday, April 22nd. Raymond James downgraded shares of Tesla to an “outperform” rating in a report on Tuesday, April 22nd. Finally, TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $293.67.

Tesla Price Performance

Tesla stock opened at $325.31 on Friday. Tesla, Inc. has a 1 year low of $177.00 and a 1 year high of $488.54. The firm has a 50 day moving average price of $299.39 and a 200 day moving average price of $332.88. The company has a market cap of $1.05 trillion, a price-to-earnings ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02.

Tesla (NASDAQ:TSLA) last released its 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 7.26% and a return on equity of 10.31%. The company had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Sell-side analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Transactions at Tesla

In other news, Director Joseph Gebbia bought 4,000 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was acquired at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the purchase, the director now owns 4,111 shares of the company’s stock, valued at $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were 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 owns 855,394 shares of the company’s stock, valued at $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock valued at $273,791,775 over the last 90 days. Corporate 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.