Tesla, Inc. (NASDAQ:TSLA) Stake Raised by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. raised its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 7.6% during the 1st quarter, HoldingsChannel reports. The fund owned 9,204 shares of the electric vehicle producer’s stock after purchasing an additional 654 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Tesla were worth $2,385,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Simmons Bank lifted its position in Tesla by 2.1% in the 1st quarter. Simmons Bank now owns 13,538 shares of the electric vehicle producer’s stock worth $3,509,000 after buying an additional 275 shares in the last quarter. DT Investment Partners LLC increased its stake in shares of Tesla by 26.2% in the first quarter. DT Investment Partners LLC now owns 1,937 shares of the electric vehicle producer’s stock worth $502,000 after acquiring an additional 402 shares during the last quarter. Elite Financial Inc. purchased a new stake in shares of Tesla during the first quarter worth $89,000. World Investment Advisors raised its holdings in shares of Tesla by 8.1% during the first quarter. World Investment Advisors now owns 26,536 shares of the electric vehicle producer’s stock worth $6,877,000 after acquiring an additional 1,998 shares in the last quarter. Finally, Wayfinding Financial LLC boosted its position in Tesla by 28.3% during the first quarter. Wayfinding Financial LLC now owns 1,088 shares of the electric vehicle producer’s stock valued at $281,000 after purchasing an additional 240 shares during the last quarter. Institutional investors and hedge funds own 66.20% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $313.56 on Friday. The stock has a market capitalization of $1.01 trillion, a price-to-earnings ratio of 172.29, a P/E/G ratio of 9.17 and a beta of 2.39. The firm’s 50-day moving average price is $320.93 and its two-hundred day moving average price is $325.92. 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 1-year low of $182.00 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last released 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 return on equity of 9.02% and a net margin of 6.66%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the company earned $0.45 earnings per share. On average, equities analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Glj Research restated a “sell” rating and issued a $19.05 price objective (down previously from $24.86) on shares of Tesla in a report on Monday, April 21st. The Goldman Sachs Group increased their price target on shares of Tesla from $285.00 to $315.00 and gave the stock a “neutral” rating in a research note on Thursday. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. HSBC reissued a “reduce” rating and set a $120.00 target price on shares of Tesla in a research report on Thursday. Finally, Raymond James Financial downgraded Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tesla has an average rating of “Hold” and a consensus target price of $301.24.

Insider Activity at Tesla

In related news, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the transaction, the director directly owned 855,394 shares of the company’s stock, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robyn M. Denholm sold 112,395 shares of the company’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director owned 85,000 shares in the company, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by company insiders.

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.