Sterling Financial Group Inc. Purchases 88 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sterling Financial Group Inc. raised its position in Tesla, Inc. (NASDAQ:TSLA) by 3.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,782 shares of the electric vehicle producer’s stock after buying an additional 88 shares during the period. Sterling Financial Group Inc.’s holdings in Tesla were worth $721,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TSLA. Wealth Group Ltd. bought a new position in shares of Tesla in the fourth quarter worth about $275,000. Comprehensive Financial Planning Inc. PA bought a new position in Tesla in the 4th quarter valued at $1,361,000. Tallon Kerry Patrick acquired a new stake in shares of Tesla in the 4th quarter valued at $374,000. Eagle Capital Management LLC bought a new stake in shares of Tesla during the fourth quarter worth $331,000. Finally, Brighton Jones LLC increased its position in Tesla by 11.8% in the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer’s stock worth $35,509,000 after purchasing an additional 9,293 shares during the period. 66.20% of the stock is owned by institutional investors.

Tesla Stock Up 0.1%

Tesla stock opened at $326.43 on Thursday. The company’s 50-day moving average is $295.60 and its 200-day moving average is $333.11. The firm has a market capitalization of $1.05 trillion, a PE ratio of 160.02, a P/E/G ratio of 5.86 and a beta of 2.47. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a fifty-two week low of $169.80 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter in the prior year, the firm posted $0.45 earnings per share. Sell-side analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the transaction, the chief financial officer now owns 26,950 shares of the company’s stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director now directly owns 1,463,220 shares of the company’s stock, valued at approximately $522,940,195.80. The trade was a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 818,509 shares of company stock worth $273,791,775. Insiders own 20.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Tesla from $120.00 to $115.00 and set an “underweight” rating for the company in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research note on Friday, March 28th. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a report on Thursday, March 6th. Argus reaffirmed a “hold” rating on shares of Tesla in a research report on Monday. Finally, TD Cowen upgraded Tesla from a “hold” rating to a “buy” rating and boosted their price objective for the company from $180.00 to $388.00 in a research report on Friday, March 7th. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $293.67.

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.