Howard Financial Services LTD. Acquires 882 Shares of Tesla, Inc. (NASDAQ:TSLA)

Howard Financial Services LTD. grew its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 22.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 4,864 shares of the electric vehicle producer’s stock after purchasing an additional 882 shares during the period. Howard Financial Services LTD.’s holdings in Tesla were worth $855,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Holderness Investments Co. increased its position in shares of Tesla by 1.6% during the third quarter. Holderness Investments Co. now owns 2,599 shares of the electric vehicle producer’s stock worth $650,000 after buying an additional 42 shares during the period. Daymark Wealth Partners LLC grew its holdings in Tesla by 0.4% in the fourth quarter. Daymark Wealth Partners LLC now owns 10,554 shares of the electric vehicle producer’s stock worth $2,622,000 after purchasing an additional 45 shares during the period. Cravens & Co Advisors LLC grew its holdings in Tesla by 1.2% in the third quarter. Cravens & Co Advisors LLC now owns 4,095 shares of the electric vehicle producer’s stock worth $1,025,000 after purchasing an additional 48 shares during the period. Patten & Patten Inc. TN grew its holdings in Tesla by 1.1% in the fourth quarter. Patten & Patten Inc. TN now owns 4,601 shares of the electric vehicle producer’s stock worth $1,143,000 after purchasing an additional 48 shares during the period. Finally, Caerus Investment Advisors LLC grew its holdings in Tesla by 0.3% in the fourth quarter. Caerus Investment Advisors LLC now owns 14,395 shares of the electric vehicle producer’s stock worth $3,577,000 after purchasing an additional 49 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $0.46 during midday trading on Friday, hitting $197.88. The company’s stock had a trading volume of 94,939,711 shares, compared to its average volume of 95,326,883. The stock has a fifty day moving average price of $175.83 and a 200 day moving average price of $192.28. Tesla, Inc. has a one year low of $138.80 and a one year high of $299.29. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $631.08 billion, a price-to-earnings ratio of 50.03, a P/E/G ratio of 4.87 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last posted its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. The company had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. Tesla had a net margin of 14.37% and a return on equity of 13.18%. On average, research analysts forecast that Tesla, Inc. will post 1.87 EPS for the current fiscal year.

Insider Activity at Tesla

In related news, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $2,772,900. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the business’s 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 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robyn M. Denholm sold 93,705 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $184.86, for a total transaction of $17,322,306.30. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,855 shares of company stock valued at $19,285,643. Corporate insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of a number of research reports. Piper Sandler restated an “overweight” rating and issued a $205.00 price target on shares of Tesla in a report on Monday, April 22nd. UBS Group reduced their price target on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Royal Bank of Canada reduced their price target on shares of Tesla from $293.00 to $227.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Oppenheimer reiterated a “market perform” rating on shares of Tesla in a report on Wednesday, April 24th. Finally, Bank of America upgraded shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 price objective for the company in a report on Wednesday, April 24th. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $187.30.

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.