Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Shariaportfolio Inc.

Shariaportfolio Inc. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 5.7% in the 1st quarter, HoldingsChannel reports. The fund owned 106,948 shares of the electric vehicle producer’s stock after purchasing an additional 5,795 shares during the period. Tesla makes up about 14.4% of Shariaportfolio Inc.’s investment portfolio, making the stock its 3rd biggest holding. Shariaportfolio Inc.’s holdings in Tesla were worth $27,717,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TSLA. True Wealth Design LLC grew its stake in shares of Tesla by 79.5% in the 4th 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 during the period. Horrell Capital Management Inc. grew its stake in shares of Tesla by 75.6% in the 4th 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 during the period. GS Investments Inc. grew its stake in shares of Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC bought a new stake in shares of Tesla in the 4th quarter valued at approximately $37,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Tesla in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 4,000 shares of Tesla 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 directly owns 26,950 shares in the company, valued at approximately $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director now owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 833,509 shares of company stock worth $278,648,925. Corporate insiders own 20.70% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on TSLA. Glj Research restated a “sell” rating and set a $19.05 price target (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Canaccord Genuity Group decreased their price target on Tesla from $404.00 to $303.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company decreased their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a research report on Friday, March 14th. Guggenheim restated a “sell” rating and set a $175.00 price target on shares of Tesla in a research report on Monday. Finally, Piper Sandler restated an “overweight” rating and set a $400.00 price target on shares of Tesla in a research report on Tuesday, June 10th. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla currently has a consensus rating of “Hold” and a consensus price target of $294.58.

Tesla Stock Up 8.2%

NASDAQ:TSLA opened at $348.68 on Tuesday. Tesla, Inc. has a 12-month low of $182.00 and a 12-month 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 firm has a market capitalization of $1.12 trillion, a P/E ratio of 191.58, a P/E/G ratio of 12.05 and a beta of 2.47. The stock’s fifty day simple moving average is $308.14 and its 200-day simple moving average is $331.42.

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 the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the business earned $0.45 earnings per share. Equities research analysts expect 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.