Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Clarity Capital Partners LLC

Clarity Capital Partners LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 13.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 47,723 shares of the electric vehicle producer’s stock after purchasing an additional 5,694 shares during the period. Tesla makes up approximately 5.5% of Clarity Capital Partners LLC’s holdings, making the stock its largest position. Clarity Capital Partners LLC’s holdings in Tesla were worth $8,389,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TSLA. Daymark Wealth Partners LLC grew its stake in shares of Tesla by 0.4% in the 4th quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock valued at $2,622,000 after purchasing an additional 45 shares during the period. Patten & Patten Inc. TN grew its stake in shares of Tesla by 1.1% in the 4th quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock valued at $1,143,000 after purchasing an additional 48 shares during the period. Caerus Investment Advisors LLC grew its stake in shares of Tesla by 0.3% in the 4th quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock valued at $3,577,000 after purchasing an additional 49 shares during the period. Salvus Wealth Management LLC grew its stake in shares of Tesla by 3.2% in the 4th quarter. Salvus Wealth Management LLC now owns 1,617 shares of the electric vehicle producer’s stock valued at $402,000 after purchasing an additional 50 shares during the period. Finally, Monte Financial Group LLC grew its stake in shares of Tesla by 3.4% in the 4th quarter. Monte Financial Group LLC now owns 1,526 shares of the electric vehicle producer’s stock valued at $379,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 66.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on TSLA shares. Bank of America raised Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective on the stock in a report on Wednesday, April 24th. TD Cowen upped their price objective on Tesla from $160.00 to $180.00 and gave the stock a “hold” rating in a report on Wednesday, July 3rd. Citigroup reaffirmed a “neutral” rating on shares of Tesla in a report on Wednesday, June 12th. China Renaissance raised Tesla from a “hold” rating to a “buy” rating and set a $290.00 price target on the stock in a research note on Friday, July 5th. Finally, JPMorgan Chase & Co. cut their price target on Tesla from $130.00 to $115.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 3rd. Seven analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Tesla currently has an average rating of “Hold” and a consensus target price of $195.39.

Insiders Place Their Bets

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

Tesla Stock Performance

Shares of Tesla stock traded up $0.93 on Wednesday, reaching $263.26. 127,980,891 shares of the company traded hands, compared to its average volume of 98,692,945. Tesla, Inc. has a 52 week low of $138.80 and a 52 week high of $299.29. The company has a 50 day moving average of $190.19 and a 200 day moving average of $191.41. The firm has a market capitalization of $839.59 billion, a PE ratio of 67.16, a PEG ratio of 6.27 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

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

About Tesla

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.