973,698 Shares in Tesla, Inc. (NASDAQ:TSLA) Purchased by Global Assets Advisory LLC

Global Assets Advisory LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 973,698 shares of the electric vehicle producer’s stock, valued at approximately $171,166,000.

Other hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. grew its stake in Tesla by 13.3% during the third quarter. Federated Hermes Inc. now owns 82,508 shares of the electric vehicle producer’s stock worth $20,645,000 after buying an additional 9,676 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Tesla by 10.0% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,073 shares of the electric vehicle producer’s stock worth $1,019,000 after purchasing an additional 370 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Tesla by 25.3% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 7,769 shares of the electric vehicle producer’s stock valued at $1,944,000 after purchasing an additional 1,568 shares in the last quarter. EPG Wealth Management LLC increased its stake in shares of Tesla by 4.9% in the 3rd quarter. EPG Wealth Management LLC now owns 1,953 shares of the electric vehicle producer’s stock valued at $489,000 after purchasing an additional 92 shares during the last quarter. Finally, Certified Advisory Corp lifted its position in shares of Tesla by 6.0% during the 3rd quarter. Certified Advisory Corp now owns 6,263 shares of the electric vehicle producer’s stock worth $1,567,000 after buying an additional 354 shares during the last quarter. 66.20% of the stock is owned by institutional investors.

Tesla Stock Performance

Shares of TSLA stock traded down $0.43 during trading on Monday, hitting $182.58. The company’s stock had a trading volume of 61,817,712 shares, compared to its average volume of 95,771,602. The business has a fifty day moving average of $173.99 and a 200-day moving average of $193.08. The company has a market cap of $582.28 billion, a PE ratio of 46.77, a P/E/G ratio of 4.50 and a beta of 2.32. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04.

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

Insider Buying and Selling at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $184.86, for a total value of $17,322,306.30. Following the sale, the director now owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla 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 approximately $2,772,900. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now directly owns 65,155 shares in the company, valued at $11,350,652.55. 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 three months. 25.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on TSLA. China Renaissance assumed coverage on Tesla in a research report on Monday, February 26th. They issued a “hold” rating for the company. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 target price on shares of Tesla in a research report on Wednesday, April 24th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a research report on Wednesday, April 24th. Guggenheim reiterated a “sell” rating and set a $122.00 price target on shares of Tesla in a report on Tuesday, April 23rd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Tesla in a research note on Wednesday, April 24th. Seven investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $182.68.

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.