3,161 Shares in Tesla, Inc. (NASDAQ:TSLA) Bought by Legacy Financial Group LLC

Legacy Financial Group LLC bought a new position in Tesla, Inc. (NASDAQ:TSLA) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,161 shares of the electric vehicle producer’s stock, valued at approximately $556,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wyrmwood Management LLC bought a new stake in Tesla in the fourth quarter worth $25,000. Lam Group Inc. bought a new stake in Tesla in the fourth quarter worth $25,000. Mendota Financial Group LLC lifted its stake in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after purchasing an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A bought a new position in shares of Tesla during the fourth quarter valued at about $37,000. Finally, Kathleen S. Wright Associates Inc. raised its stake in shares of Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock valued at $47,000 after acquiring an additional 100 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Up 0.8 %

Shares of NASDAQ:TSLA traded up $1.44 during trading on Friday, reaching $183.01. 62,940,152 shares of the stock traded hands, compared to its average volume of 96,060,313. The stock has a 50-day moving average of $173.75 and a two-hundred day moving average of $194.08. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The stock has a market cap of $583.66 billion, a P/E ratio of 46.69, a price-to-earnings-growth ratio of 4.58 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. As a group, sell-side analysts expect that Tesla, Inc. will post 1.87 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robyn M. Denholm sold 93,705 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares in the company, valued at approximately $2,772,900. The disclosure for this sale can be found here. Insiders have sold a total of 104,855 shares of company stock worth $19,285,643 over the last 90 days. 25.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $230.00 price objective on shares of Tesla in a research note on Wednesday, June 12th. Robert W. Baird reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research note on Wednesday, April 17th. Wedbush reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Tesla in a research note on Friday, June 14th. Piper Sandler reaffirmed an “overweight” rating and set a $205.00 price objective on shares of Tesla in a research note on Monday, April 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $310.00 price objective on shares of Tesla in a research note on Thursday. Eight analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $183.62.

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.