Smith Thornton Advisors LLC Buys 193 Shares of Tesla, Inc. (NASDAQ:TSLA)

Smith Thornton Advisors LLC increased its stake in Tesla, Inc. (NASDAQ:TSLA) by 17.2% during the 1st quarter, Holdings Channel reports. The firm owned 1,318 shares of the electric vehicle producer’s stock after purchasing an additional 193 shares during the quarter. Smith Thornton Advisors LLC’s holdings in Tesla were worth $342,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. CWM LLC increased its position in shares of Tesla by 7.4% in the first quarter. CWM LLC now owns 340,388 shares of the electric vehicle producer’s stock worth $88,215,000 after purchasing an additional 23,349 shares during the last quarter. TFR Capital LLC. increased its position in shares of Tesla by 41.2% in the first quarter. TFR Capital LLC. now owns 8,002 shares of the electric vehicle producer’s stock worth $2,074,000 after purchasing an additional 2,335 shares during the last quarter. Dock Street Asset Management Inc. increased its position in shares of Tesla by 197.6% in the first quarter. Dock Street Asset Management Inc. now owns 2,149 shares of the electric vehicle producer’s stock worth $557,000 after purchasing an additional 1,427 shares during the last quarter. Hughes Financial Services LLC bought a new position in shares of Tesla in the first quarter worth approximately $127,000. Finally, TruNorth Capital Management LLC increased its position in shares of Tesla by 3,902.2% in the first quarter. TruNorth Capital Management LLC now owns 1,801 shares of the electric vehicle producer’s stock worth $467,000 after purchasing an additional 1,756 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. UBS Group set a $290.00 target price on Tesla in a research note on Monday, June 30th. Wedbush reaffirmed an “outperform” rating and issued a $500.00 target price on shares of Tesla in a research note on Tuesday, July 8th. Mizuho dropped their price objective on Tesla from $390.00 to $375.00 and set an “outperform” rating for the company in a research note on Tuesday, July 8th. Barclays dropped their price objective on Tesla from $325.00 to $275.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Finally, Glj Research reissued a “sell” rating and set a $19.05 price objective (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $300.19.

Insider Transactions at Tesla

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total transaction of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Vaibhav Taneja sold 2,000 shares of the business’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total value of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares of the company’s stock, valued at approximately $1,777,200. This represents a 25.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 835,509 shares of company stock valued at $279,420,485. 20.70% of the stock is owned by company insiders.

Tesla Price Performance

Shares of NASDAQ:TSLA opened at $313.51 on Friday. Tesla, Inc. has a fifty-two week low of $182.00 and a fifty-two week high of $488.54. The business has a 50-day simple moving average of $322.60 and a two-hundred day simple moving average of $320.26. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. The firm has a market cap of $1.01 trillion, a price-to-earnings ratio of 172.26, a price-to-earnings-growth ratio of 9.33 and a beta of 2.39.

Tesla (NASDAQ:TSLA) last issued its earnings results 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). The business had revenue of $19.34 billion during the quarter, compared to analysts’ expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period last year, the firm posted $0.45 EPS. On average, analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current 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.