tru Independence LLC Purchases 232 Shares of Tesla, Inc. (NASDAQ:TSLA)

tru Independence LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 40.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 809 shares of the electric vehicle producer’s stock after buying an additional 232 shares during the period. tru Independence LLC’s holdings in Tesla were worth $210,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC raised its position in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. raised its position in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC purchased a new position in Tesla during the fourth quarter valued at $37,000. Finally, CoreFirst Bank & Trust purchased a new position in Tesla during the fourth quarter valued at $38,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling

In other news, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $274.12, for a total value of $30,809,717.40. Following the sale, the director owned 85,000 shares in the company, valued at $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the completion of the sale, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 835,509 shares of company stock valued at $279,420,485 in the last ninety days. Company insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

TSLA has been the subject of several research analyst reports. Oppenheimer reaffirmed a “mixed” rating on shares of Tesla in a research note on Tuesday, March 18th. Argus reissued a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Benchmark reissued a “buy” rating and issued a $475.00 price objective (up from $350.00) on shares of Tesla in a research note on Thursday, June 26th. JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 23rd. Finally, Truist Financial set a $280.00 price objective on shares of Tesla in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tesla has an average rating of “Hold” and a consensus price target of $301.13.

Tesla Trading Down 0.6%

NASDAQ TSLA opened at $295.88 on Thursday. The company has a fifty day simple moving average of $321.49 and a two-hundred day simple moving average of $323.10. The stock has a market cap of $953.02 billion, a P/E ratio of 162.57, a P/E/G ratio of 8.86 and a beta of 2.39. 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.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $22.93 billion. During the same period last year, the business earned $0.45 EPS. On average, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.