Capital Investment Counsel Inc Acquires 63 Shares of Tesla, Inc. (NASDAQ:TSLA)

Capital Investment Counsel Inc boosted its stake in Tesla, Inc. (NASDAQ:TSLA) by 1.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,473 shares of the electric vehicle producer’s stock after purchasing an additional 63 shares during the quarter. Capital Investment Counsel Inc’s holdings in Tesla were worth $900,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of TSLA. Lodestone Wealth Management LLC lifted its holdings in shares of Tesla by 11.5% during the 1st quarter. Lodestone Wealth Management LLC now owns 1,985 shares of the electric vehicle producer’s stock worth $514,000 after acquiring an additional 204 shares during the last quarter. Clune & Associates LTD. lifted its stake in Tesla by 4.4% during the first quarter. Clune & Associates LTD. now owns 1,193 shares of the electric vehicle producer’s stock worth $309,000 after purchasing an additional 50 shares during the last quarter. Axis Wealth Partners LLC boosted its holdings in shares of Tesla by 3.7% in the 1st quarter. Axis Wealth Partners LLC now owns 1,298 shares of the electric vehicle producer’s stock worth $336,000 after purchasing an additional 46 shares in the last quarter. Latitude Advisors LLC increased its position in shares of Tesla by 34.8% during the 1st quarter. Latitude Advisors LLC now owns 2,001 shares of the electric vehicle producer’s stock valued at $519,000 after purchasing an additional 517 shares during the last quarter. Finally, Heritage Oak Wealth Advisors LLC raised its holdings in shares of Tesla by 8.3% during the 1st quarter. Heritage Oak Wealth Advisors LLC now owns 954 shares of the electric vehicle producer’s stock valued at $247,000 after buying an additional 73 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler reissued an “overweight” rating and set a $400.00 price target on shares of Tesla in a research note on Tuesday, June 10th. Roth Mkm decreased their target price on shares of Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Argus restated a “hold” rating on shares of Tesla in a research report on Monday, June 9th. Needham & Company LLC reiterated a “hold” rating on shares of Tesla in a report on Wednesday, April 23rd. Finally, Cantor Fitzgerald dropped their target price on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $300.64.

Insider Transactions at Tesla

In other news, CFO Vaibhav Taneja sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total value of $2,046,120.00. Following the transaction, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. This represents a 75.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 91,588 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the sale, the director directly owned 1,463,220 shares of the company’s stock, valued at $522,940,195.80. This trade represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 833,509 shares of company stock worth $278,648,925 over the last quarter. Corporate insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $315.65 on Thursday. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The firm’s 50-day simple moving average is $319.28 and its two-hundred day simple moving average is $328.10. The stock has a market cap of $1.02 trillion, a PE ratio of 173.43, a price-to-earnings-growth ratio of 11.41 and a beta of 2.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the business earned $0.45 EPS. Analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.