ERn Financial LLC Has $2.36 Million Position in Tesla, Inc. (NASDAQ:TSLA)

ERn Financial LLC grew its holdings in Tesla, Inc. (NASDAQ:TSLA) by 15.1% during the 1st quarter, HoldingsChannel reports. The firm owned 13,415 shares of the electric vehicle producer’s stock after acquiring an additional 1,764 shares during the quarter. ERn Financial LLC’s holdings in Tesla were worth $2,358,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Tesla by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 229,806,372 shares of the electric vehicle producer’s stock worth $57,102,287,000 after buying an additional 3,866,361 shares in the last quarter. Norges Bank acquired a new position in shares of Tesla in the 4th quarter worth approximately $7,844,757,000. Morgan Stanley boosted its stake in Tesla by 7.8% in the 3rd quarter. Morgan Stanley now owns 30,160,747 shares of the electric vehicle producer’s stock valued at $7,546,823,000 after buying an additional 2,177,397 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Tesla by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 15,155,878 shares of the electric vehicle producer’s stock worth $3,765,933,000 after acquiring an additional 458,804 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Tesla by 0.3% in the 3rd quarter. American Century Companies Inc. now owns 6,702,634 shares of the electric vehicle producer’s stock worth $1,677,133,000 after purchasing an additional 19,887 shares during the last quarter. Institutional investors own 66.20% of the company’s stock.

Analysts Set New Price Targets

TSLA has been the subject of several recent analyst reports. Roth Mkm reaffirmed a “neutral” rating and set a $85.00 price objective on shares of Tesla in a report on Wednesday, April 24th. Barclays decreased their target price on Tesla from $225.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a report on Thursday, April 25th. Finally, HSBC cut their target price on shares of Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research report on Wednesday, April 24th. Seven equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Tesla has a consensus rating of “Hold” and a consensus target price of $187.30.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of the stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $174.21, for a total transaction of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares in the company, valued at approximately $11,350,652.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Robyn M. Denholm sold 93,705 shares of Tesla 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 sale, the director now directly owns 15,000 shares in the company, valued at approximately $2,772,900. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the transaction, the senior vice president now directly owns 65,155 shares of the company’s stock, valued at approximately $11,350,652.55. The disclosure for this sale can be found here. Insiders sold a total of 104,855 shares of company stock valued at $19,285,643 over the last quarter. 25.10% of the stock is owned by corporate insiders.

Tesla Stock Performance

NASDAQ TSLA traded up $1.05 during trading on Thursday, reaching $197.42. 72,012,084 shares of the company’s stock were exchanged, compared to its average volume of 95,323,648. The stock has a market capitalization of $629.61 billion, a P/E ratio of 49.98, a PEG ratio of 4.65 and a beta of 2.32. The business has a 50 day moving average price of $175.83 and a 200-day moving average price of $192.28. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $299.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.72 and a quick ratio of 1.17.

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

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.