Truefg LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Truefg LLC grew its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,024 shares of the electric vehicle producer’s stock after acquiring an additional 140 shares during the quarter. Truefg LLC’s holdings in Tesla were worth $265,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. True Wealth Design LLC boosted its position in 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 Tesla by 75.6% in the fourth 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 during the last quarter. GS Investments Inc. boosted its position in Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock worth $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC purchased a new position in Tesla in the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust purchased a new position in Tesla in the fourth quarter worth about $38,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

Shares of TSLA stock opened at $308.58 on Tuesday. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The stock has a market capitalization of $993.92 billion, a price-to-earnings ratio of 151.27, a P/E/G ratio of 5.86 and a beta of 2.47. The stock has a fifty day simple moving average of $292.68 and a two-hundred day simple moving average of $333.20. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

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 the consensus estimate 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 return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the prior year, the company posted $0.45 earnings per share. On average, analysts predict that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Cowen raised Tesla from a “hold” rating to a “buy” rating in a research report on Thursday, March 6th. Cfra Research cut Tesla from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research report on Friday. Cantor Fitzgerald lowered their price objective on Tesla from $425.00 to $355.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, Roth Mkm lowered their price objective on Tesla from $450.00 to $395.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $293.67.

Insider Buying and Selling

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the 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 transaction, the director now directly owns 855,394 shares of the company’s stock, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 1,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,950 shares in the company, valued at $682,500. This represents a 33.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock worth $273,791,775 in the last three months. 20.70% of the stock is owned by insiders.

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.