Sutton Place Investors LLC Purchases 488 Shares of Tesla, Inc. (NASDAQ:TSLA)

Sutton Place Investors LLC lifted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 57.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,335 shares of the electric vehicle producer’s stock after purchasing an additional 488 shares during the quarter. Sutton Place Investors LLC’s holdings in Tesla were worth $235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in TSLA. Walkner Condon Financial Advisors LLC boosted its position in Tesla by 12.0% in the third quarter. Walkner Condon Financial Advisors LLC now owns 2,169 shares of the electric vehicle producer’s stock valued at $543,000 after buying an additional 233 shares in the last quarter. Trust Co. of Toledo NA OH grew its holdings in Tesla by 24.8% in the third quarter. Trust Co. of Toledo NA OH now owns 3,834 shares of the electric vehicle producer’s stock worth $959,000 after purchasing an additional 761 shares during the period. Country Club Bank GFN raised its stake in Tesla by 4.9% during the 3rd quarter. Country Club Bank GFN now owns 7,171 shares of the electric vehicle producer’s stock worth $1,767,000 after buying an additional 336 shares during the period. Walter & Keenan Wealth Management LLC IN ADV raised its holdings in Tesla by 13.5% during the third quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 1,036 shares of the electric vehicle producer’s stock worth $259,000 after buying an additional 123 shares during the last quarter. Finally, Covenant Partners LLC increased its holdings in Tesla by 274.8% during the 3rd quarter. Covenant Partners LLC now owns 3,493 shares of the electric vehicle producer’s stock worth $874,000 after purchasing an additional 2,561 shares in the last quarter. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Tesla news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $176.20, for a total value of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares of the company’s stock, valued at $5,502,726. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tesla news, Director Robyn M. Denholm sold 93,706 shares of Tesla stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $194.73, for a total transaction of $18,247,369.38. Following the completion of the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,920,950. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Andrew D. Baglino sold 10,500 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $176.20, for a total transaction of $1,850,100.00. Following the completion of the sale, the senior vice president now owns 31,230 shares in the company, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last three months, insiders have sold 209,098 shares of company stock valued at $38,802,534. 20.90% of the stock is currently owned by insiders.

Tesla Stock Down 5.6 %

Shares of NASDAQ TSLA traded down $10.77 during midday trading on Tuesday, reaching $183.28. 126,403,453 shares of the company’s stock traded hands, compared to its average volume of 105,362,438. The company has a market cap of $584.52 billion, a price-to-earnings ratio of 46.76, a P/E/G ratio of 4.45 and a beta of 2.40. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $174.71 and its 200-day simple moving average is $206.29.

Wall Street Analyst Weigh In

Several research firms have commented on TSLA. JPMorgan Chase & Co. dropped their price objective on shares of Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Wednesday, April 3rd. Truist Financial lowered their price target on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Needham & Company LLC restated a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Piper Sandler restated an “overweight” rating and set a $205.00 price target on shares of Tesla in a research report on Monday, April 22nd. Finally, Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a research note on Wednesday, April 24th. Eight equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Tesla presently has an average rating of “Hold” and an average target price of $184.32.

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.