Dynamic Advisor Solutions LLC Purchases Shares of 87,447 Tesla, Inc. (NASDAQ:TSLA)

Dynamic Advisor Solutions LLC purchased a new stake in shares of Tesla, Inc. (NASDAQ:TSLA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 87,447 shares of the electric vehicle producer’s stock, valued at approximately $22,663,000. Tesla accounts for approximately 0.7% of Dynamic Advisor Solutions LLC’s investment portfolio, making the stock its 29th largest position.

Several other hedge funds have also bought and sold shares of TSLA. Susquehanna Fundamental Investments LLC bought a new position in shares of Tesla in the fourth quarter worth about $56,600,000. Focus Financial Network Inc. boosted its stake in shares of Tesla by 3.1% in the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock worth $5,823,000 after acquiring an additional 670 shares during the period. Strategic Family Wealth Counselors L.L.C. boosted its stake in shares of Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock worth $1,150,000 after acquiring an additional 1,629 shares during the period. Harvard Management Co. Inc. bought a new position in shares of Tesla in the fourth quarter worth about $8,158,000. Finally, Vontobel Holding Ltd. boosted its stake in shares of Tesla by 23.0% in the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock worth $130,158,000 after acquiring an additional 60,342 shares during the period. Institutional investors own 66.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TSLA. UBS Group dropped their price objective on Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Canaccord Genuity Group dropped their price target on Tesla from $404.00 to $303.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their price target on Tesla from $420.00 to $345.00 and set a “buy” rating for the company in a research note on Friday, March 28th. BNP Paribas set a $137.00 price target on Tesla and gave the company an “underperform” rating in a research note on Wednesday, April 16th. Finally, Argus reissued a “hold” rating on shares of Tesla in a research note on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $293.67.

Insider Transactions at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 1,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the chief financial officer now directly owns 1,950 shares in the company, valued at $682,500. This trade represents a 33.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director now owns 855,394 shares in the company, valued at $305,632,276.20. The trade was a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 818,509 shares of company stock worth $273,791,775. 20.70% of the stock is currently owned by company insiders.

Tesla Trading Up 1.9%

Shares of NASDAQ TSLA opened at $325.31 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business’s 50 day moving average price is $299.39 and its 200-day moving average price is $332.88. Tesla, Inc. has a fifty-two week low of $177.00 and a fifty-two week high of $488.54. The company has a market cap of $1.05 trillion, a price-to-earnings ratio of 159.47, a PEG ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 during the quarter, compared to analysts’ expectations of $22.93 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

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.