Ignite Planners LLC Buys 767 Shares of Tesla, Inc. (NASDAQ:TSLA)

Ignite Planners LLC lifted its stake in Tesla, Inc. (NASDAQ:TSLA) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,743 shares of the electric vehicle producer’s stock after acquiring an additional 767 shares during the period. Tesla makes up about 1.0% of Ignite Planners LLC’s holdings, making the stock its 19th largest holding. Ignite Planners LLC’s holdings in Tesla were worth $4,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in TSLA. True Wealth Design LLC grew its stake in shares of Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. boosted its position in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock worth $32,000 after purchasing an additional 34 shares in the last quarter. Navigoe LLC bought a new stake in shares of Tesla in the 4th quarter worth approximately $37,000. CoreFirst Bank & Trust purchased a new position in Tesla in the 4th quarter worth approximately $38,000. Finally, Cherry Tree Wealth Management LLC raised its stake in Tesla by 86.3% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer’s stock valued at $25,000 after buying an additional 44 shares during 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 equities research analysts have recently issued reports on the stock. Cantor Fitzgerald set a $355.00 price objective on shares of Tesla and gave the company an “overweight” rating in a research report on Monday. Truist Financial set a $280.00 target price on shares of Tesla in a research report on Tuesday, April 22nd. Royal Bank Of Canada lowered their target price on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Raymond James Financial downgraded shares of Tesla to an “outperform” rating in a research note on Tuesday, April 22nd. Finally, UBS Group set a $290.00 target price on shares of Tesla in a report on Monday, June 30th. Ten research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $298.97.

Insiders Place Their Bets

In other news, Director Kimbal Musk sold 91,588 shares of the stock in a transaction dated 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 represents a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $300.00, for a total transaction of $600,000.00. Following the completion of the transaction, the chief financial officer directly owned 5,924 shares in the company, valued at $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 835,509 shares of company stock worth $279,420,485. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Down 0.4%

Shares of TSLA stock opened at $328.41 on Tuesday. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average price is $326.27 and its 200-day moving average price is $316.26. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 180.49, a price-to-earnings-growth ratio of 12.56 and a beta of 2.39.

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

Tesla Company 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.