Insigneo Advisory Services LLC Purchases 9,167 Shares of Tesla, Inc. (NASDAQ:TSLA)

Insigneo Advisory Services LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA) by 25.1% during the first quarter, Holdings Channel reports. The firm owned 45,756 shares of the electric vehicle producer’s stock after acquiring an additional 9,167 shares during the period. Tesla makes up 1.2% of Insigneo Advisory Services LLC’s holdings, making the stock its 13th largest holding. Insigneo Advisory Services LLC’s holdings in Tesla were worth $11,858,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC increased its stake in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Horrell Capital Management Inc. raised 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 during the period. Pflug Koory LLC raised its stake in shares of Tesla by 370.4% in the first quarter. Pflug Koory LLC now owns 127 shares of the electric vehicle producer’s stock valued at $33,000 after buying an additional 100 shares during the period. GS Investments Inc. lifted its position 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 last quarter. Finally, Navigoe LLC bought a new position in shares of Tesla during the 4th quarter worth $37,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

Tesla stock opened at $329.13 on Tuesday. The firm has a fifty day simple moving average of $301.53 and a two-hundred day simple moving average of $332.77. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a twelve month low of $177.00 and a twelve month high of $488.54. The company has a market capitalization of $1.06 trillion, a PE ratio of 161.34, a P/E/G ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.26). The company had revenue of $19.34 billion during the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the firm posted $0.45 EPS. Research analysts expect that Tesla, Inc. will post 2.56 EPS for the current year.

Analyst Ratings Changes

TSLA has been the topic of several recent research reports. Guggenheim reaffirmed a “sell” rating on shares of Tesla in a report on Friday. HSBC dropped their price target on shares of Tesla from $165.00 to $130.00 and set a “reduce” rating on the stock in a research note on Thursday, March 27th. Royal Bank of Canada reduced their price objective on shares of Tesla from $314.00 to $307.00 and set an “outperform” rating for the company in a research note on Wednesday, April 23rd. Robert W. Baird reissued a “neutral” rating and set a $320.00 target price on shares of Tesla in a report on Monday, June 9th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $400.00 price target on shares of Tesla in a report on Tuesday, June 10th. Ten research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $293.67.

Insider Activity at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimbal Musk sold 91,588 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director now owns 1,463,220 shares in the company, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 in the last three months. 20.70% of the stock is owned by insiders.

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.