Proffitt & Goodson Inc. Acquires 2,171 Shares of Tesla, Inc. (NASDAQ:TSLA)

Proffitt & Goodson Inc. increased its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 13,568.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,187 shares of the electric vehicle producer’s stock after acquiring an additional 2,171 shares during the quarter. Proffitt & Goodson Inc.’s holdings in Tesla were worth $567,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rinkey Investments boosted its holdings in Tesla by 3.5% in the 4th quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer’s stock worth $347,000 after buying an additional 29 shares during the period. Bell Investment Advisors Inc boosted its holdings in Tesla by 1.3% in the 4th quarter. Bell Investment Advisors Inc now owns 2,339 shares of the electric vehicle producer’s stock worth $945,000 after buying an additional 30 shares during the period. Pitti Group Wealth Management LLC boosted its holdings in Tesla by 2.2% in the 4th quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer’s stock worth $594,000 after buying an additional 31 shares during the period. True Wealth Design LLC boosted its holdings in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after buying an additional 31 shares during the period. Finally, Horrell Capital Management Inc. boosted its holdings in 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 buying an additional 34 shares during the period. Institutional investors own 66.20% of the company’s stock.

Tesla Price Performance

Shares of Tesla stock opened at $313.56 on Friday. The firm has a market cap of $1.01 trillion, a PE ratio of 172.29, a price-to-earnings-growth ratio of 9.17 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 quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The company’s fifty day simple moving average is $320.93 and its two-hundred day simple moving average is $325.13.

Tesla (NASDAQ:TSLA) last announced 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). 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 in the previous year, the firm posted $0.45 EPS. As a group, equities analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. The Goldman Sachs Group raised their price objective on shares of Tesla from $285.00 to $315.00 and gave the stock a “neutral” rating in a report on Thursday. BNP Paribas set a $137.00 price target on shares of Tesla and gave the company an “underperform” rating in a report on Wednesday, April 16th. UBS Group set a $290.00 price target on shares of Tesla in a report on Monday, June 30th. Royal Bank Of Canada cut their price target on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Finally, Robert W. Baird reissued a “neutral” rating and issued a $320.00 price target on shares of Tesla in a report on Monday, June 9th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $301.60.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value of $4,857,150.00. Following the completion of the transaction, the senior vice president directly owned 67,600 shares of the company’s stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robyn M. Denholm sold 112,395 shares of Tesla stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the completion of the transaction, the director directly owned 85,000 shares of the company’s stock, valued at $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock valued at $278,648,925 over the last three months. 20.70% of the stock is currently owned by corporate 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.