Allen Mooney & Barnes Investment Advisors LLC Boosts Stake in Tesla, Inc. (NASDAQ:TSLA)

Allen Mooney & Barnes Investment Advisors LLC grew its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,651 shares of the electric vehicle producer’s stock after acquiring an additional 345 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Tesla were worth $687,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. True Wealth Design LLC raised its position in Tesla by 79.5% in the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Horrell Capital Management Inc. grew its stake in shares of Tesla by 75.6% in the fourth quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer’s stock valued at $32,000 after buying an additional 34 shares in the last quarter. GS Investments Inc. raised its holdings in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer’s stock valued at $36,000 after buying an additional 58 shares during the period. Navigoe LLC acquired a new position in Tesla during the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust purchased a new position in Tesla in the 4th quarter worth approximately $38,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent analyst reports. TD Cowen raised shares of Tesla from a “hold” rating to a “buy” rating and raised their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Cowen upgraded Tesla from a “hold” rating to a “buy” rating in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tesla in a research report on Wednesday, April 23rd. Cantor Fitzgerald reduced their price target on Tesla from $425.00 to $355.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Morgan Stanley restated an “overweight” rating and set a $410.00 price objective on shares of Tesla in a research note on Friday, June 6th. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $293.67.

Tesla Price Performance

Shares of TSLA opened at $326.43 on Thursday. Tesla, Inc. has a 12 month low of $169.80 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The stock has a fifty day moving average price of $295.60 and a 200 day moving average price of $333.11. The company has a market cap of $1.05 trillion, a P/E ratio of 160.02, a PEG ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last released its quarterly 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 firm 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 company posted $0.45 EPS. On average, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insiders Place Their Bets

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