Tesla, Inc. (NASDAQ:TSLA) Shares Purchased by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. increased its stake in shares of Tesla, Inc. (NASDAQ:TSLA) by 24.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,130 shares of the electric vehicle producer’s stock after acquiring an additional 3,980 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Tesla were worth $3,539,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wyrmwood Management LLC acquired a new position in Tesla in the fourth quarter valued at $25,000. Lam Group Inc. acquired a new position in Tesla in the fourth quarter valued at $25,000. Mendota Financial Group LLC increased its stake in Tesla by 202.2% in the fourth quarter. Mendota Financial Group LLC now owns 136 shares of the electric vehicle producer’s stock valued at $34,000 after purchasing an additional 91 shares during the period. OLD Point Trust & Financial Services N A acquired a new position in Tesla in the fourth quarter valued at $37,000. Finally, Kathleen S. Wright Associates Inc. increased its stake in shares of Tesla by 111.1% during the fourth quarter. Kathleen S. Wright Associates Inc. now owns 190 shares of the electric vehicle producer’s stock worth $47,000 after acquiring an additional 100 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Tesla Stock Performance

Shares of TSLA opened at $183.01 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72. The company has a market capitalization of $583.66 billion, a price-to-earnings ratio of 46.69, a PEG ratio of 4.50 and a beta of 2.32. The company’s 50 day simple moving average is $173.99 and its 200 day simple moving average is $193.08. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $299.29.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings results on Tuesday, April 23rd. The electric vehicle producer reported $0.35 EPS for the quarter, hitting the consensus estimate of $0.35. Tesla had a net margin of 14.37% and a return on equity of 13.18%. The firm had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. On average, sell-side analysts predict that Tesla, Inc. will post 1.87 EPS for the current year.

Insider Activity

In other news, SVP Xiaotong Zhu sold 650 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $174.21, for a total value of $113,236.50. Following the transaction, 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 legal filing with the SEC, which is available at this link. In other news, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $176.20, for a total value of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares in the company, valued at approximately $5,502,726. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the sale, the senior vice president now directly owns 65,155 shares in the company, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,855 shares of company stock worth $19,285,643. 25.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TSLA has been the topic of a number of recent analyst reports. Truist Financial dropped their price target on shares of Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research note on Wednesday, April 24th. Robert W. Baird reiterated an “outperform” rating and set a $280.00 price target on shares of Tesla in a research note on Wednesday, April 17th. Sanford C. Bernstein reiterated an “underperform” rating and set a $120.00 price target on shares of Tesla in a research note on Monday, June 10th. Guggenheim reiterated a “sell” rating and set a $122.00 price target on shares of Tesla in a research note on Tuesday, April 23rd. Finally, UBS Group decreased their price objective on shares of Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Seven analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Tesla currently has an average rating of “Hold” and an average target price of $182.68.

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.