GenTrust LLC Raises Position in Tesla, Inc. (NASDAQ:TSLA)

GenTrust LLC boosted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 23.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,857 shares of the electric vehicle producer’s stock after buying an additional 347 shares during the quarter. GenTrust LLC’s holdings in Tesla were worth $326,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Glenmede Trust Co. NA lifted its holdings in shares of Tesla by 3.5% during the third quarter. Glenmede Trust Co. NA now owns 38,224 shares of the electric vehicle producer’s stock worth $9,564,000 after purchasing an additional 1,303 shares during the period. Evergreen Capital Management LLC increased its stake in shares of Tesla by 27.8% in the third quarter. Evergreen Capital Management LLC now owns 33,132 shares of the electric vehicle producer’s stock worth $8,290,000 after acquiring an additional 7,217 shares during the period. Elevatus Welath Management raised its holdings in shares of Tesla by 99.5% during the third quarter. Elevatus Welath Management now owns 2,502 shares of the electric vehicle producer’s stock worth $626,000 after purchasing an additional 1,248 shares during the last quarter. Legacy Advisors LLC lifted its position in Tesla by 39.4% during the third quarter. Legacy Advisors LLC now owns 12,718 shares of the electric vehicle producer’s stock valued at $3,182,000 after purchasing an additional 3,593 shares during the period. Finally, Lakeshore Financial Planning Inc. purchased a new stake in Tesla in the third quarter valued at $231,000. Institutional investors and hedge funds own 66.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent research reports. HSBC lowered their target price on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 24th. The Goldman Sachs Group reissued a “neutral” rating and set a $175.00 price target on shares of Tesla in a report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Tesla from $123.00 to $136.00 and gave the company a “hold” rating in a report on Thursday, April 25th. Roth Mkm reissued a “neutral” rating and set a $85.00 target price on shares of Tesla in a research note on Wednesday, April 24th. Finally, Evercore ISI reduced their price target on Tesla from $155.00 to $145.00 and set an “in-line” rating for the company in a report on Monday, April 29th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $189.47.

Tesla Stock Up 6.5 %

TSLA stock traded up $15.13 during mid-day trading on Thursday, reaching $246.39. The company had a trading volume of 166,561,471 shares, compared to its average volume of 80,957,576. The firm has a fifty day simple moving average of $182.57 and a 200 day simple moving average of $191.32. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The company has a market capitalization of $785.79 billion, a price-to-earnings ratio of 62.85, a price-to-earnings-growth ratio of 5.74 and a beta of 2.31. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29.

Tesla (NASDAQ:TSLA) last issued its earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, meeting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion for the quarter, compared to analysts’ expectations of $22.15 billion. Analysts forecast that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 650 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla stock in a transaction on Monday, May 6th. The shares were sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Company insiders own 20.90% of the company’s stock.

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.