Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by EWG Elevate Inc.

EWG Elevate Inc. boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,897 shares of the electric vehicle producer’s stock after buying an additional 218 shares during the quarter. EWG Elevate Inc.’s holdings in Tesla were worth $685,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wyrmwood Management LLC acquired a new position in Tesla during the 4th quarter worth approximately $25,000. Lam Group Inc. acquired a new stake in Tesla in the fourth quarter valued at $25,000. Mendota Financial Group LLC lifted its holdings in Tesla by 202.2% during the 4th quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock worth $34,000 after buying an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A purchased a new stake in Tesla during the 4th quarter worth about $37,000. Finally, Kathleen S. Wright Associates Inc. boosted its position in shares of Tesla by 111.1% during the 4th quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TSLA. Truist Financial decreased their price target on Tesla from $176.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday, April 24th. Royal Bank of Canada reduced their price target on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a research report on Thursday. Wells Fargo & Company lowered their price target on Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a report on Friday, April 12th. Evercore ISI reduced their price objective on Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, April 29th. Finally, Jefferies Financial Group decreased their target price on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, April 10th. Eight investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and an average price target of $183.62.

Tesla Stock Performance

Shares of NASDAQ TSLA traded down $3.29 during mid-day trading on Thursday, hitting $181.57. The company had a trading volume of 55,799,039 shares, compared to its average volume of 96,340,117. Tesla, Inc. has a 12 month low of $138.80 and a 12 month high of $299.29. The firm’s 50 day simple moving average is $173.75 and its two-hundred day simple moving average is $194.08. The stock has a market cap of $579.06 billion, a price-to-earnings ratio of 46.32, a PEG ratio of 4.58 and a beta of 2.32. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The business had revenue of $21.30 billion during the quarter, compared to analysts’ expectations of $22.15 billion. As a group, equities research analysts forecast that Tesla, Inc. will post 1.87 earnings per share for the current year.

Insider Activity at Tesla

In other Tesla news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. The transaction 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 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 $2,772,900. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,855 shares of company stock valued at $19,285,643. Insiders own 25.10% 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.