Stonegate Investment Group LLC Purchases 469 Shares of Tesla, Inc. (NASDAQ:TSLA)

Stonegate Investment Group LLC raised its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 16.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,247 shares of the electric vehicle producer’s stock after acquiring an additional 469 shares during the quarter. Stonegate Investment Group LLC’s holdings in Tesla were worth $842,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Perfromance Wealth Partners LLC lifted its position in Tesla by 2.1% in the 1st quarter. Perfromance Wealth Partners LLC now owns 11,576 shares of the electric vehicle producer’s stock valued at $3,000,000 after acquiring an additional 242 shares in the last quarter. Mayport LLC lifted its position in Tesla by 5.2% in the 1st quarter. Mayport LLC now owns 1,875 shares of the electric vehicle producer’s stock valued at $486,000 after acquiring an additional 92 shares in the last quarter. Denver Wealth Management Inc. lifted its position in Tesla by 14.1% in the 1st quarter. Denver Wealth Management Inc. now owns 1,060 shares of the electric vehicle producer’s stock valued at $275,000 after acquiring an additional 131 shares in the last quarter. Worth Financial Advisory Group LLC lifted its position in Tesla by 59.7% in the 1st quarter. Worth Financial Advisory Group LLC now owns 1,461 shares of the electric vehicle producer’s stock valued at $379,000 after acquiring an additional 546 shares in the last quarter. Finally, Castleview Partners LLC lifted its position in Tesla by 123.4% in the 1st quarter. Castleview Partners LLC now owns 7,632 shares of the electric vehicle producer’s stock valued at $1,978,000 after acquiring an additional 4,215 shares in the last quarter. 66.20% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TSLA shares. Bank of America lowered their price target on Tesla from $490.00 to $380.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Royal Bank Of Canada lowered their price target on Tesla from $314.00 to $307.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Truist Financial set a $280.00 price target on Tesla in a report on Tuesday, April 22nd. Oppenheimer reissued a “mixed” rating on shares of Tesla in a report on Tuesday, March 18th. Finally, Wells Fargo & Company lowered their price target on Tesla from $135.00 to $130.00 and set an “underweight” rating on the stock in a report on Friday, March 14th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of “Hold” and a consensus target price of $293.67.

Tesla Stock Up 0.0%

Shares of NASDAQ:TSLA opened at $322.16 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a 50-day moving average price of $306.22 and a 200 day moving average price of $331.96. The company has a market cap of $1.04 trillion, a price-to-earnings ratio of 177.01, a PEG ratio of 12.05 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). Tesla had a net margin of 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. During the same period in the previous year, the business posted $0.45 EPS. As a group, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Vaibhav Taneja sold 1,000 shares of Tesla stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the chief financial officer now owns 1,950 shares of the company’s stock, valued at approximately $682,500. The trade was a 33.90% 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 Joseph Gebbia acquired 4,000 shares of the business’s stock in a transaction that occurred on Thursday, April 24th. The shares were acquired at an average cost of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. Insiders sold a total of 833,509 shares of company stock valued at $278,648,925 over the last 90 days. 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.