Procyon Advisors LLC Grows Stake in Tesla, Inc. (NASDAQ:TSLA)

Procyon Advisors LLC lifted its position in Tesla, Inc. (NASDAQ:TSLA) by 65.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 54,787 shares of the electric vehicle producer’s stock after purchasing an additional 21,617 shares during the period. Procyon Advisors LLC’s holdings in Tesla were worth $9,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wyrmwood Management LLC purchased a new position in shares of Tesla in the 4th quarter worth $25,000. Lam Group Inc. purchased a new position in shares of Tesla in the 4th quarter worth $25,000. Mendota Financial Group LLC lifted its position in Tesla by 202.2% during 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 in the last quarter. OLD Point Trust & Financial Services N A purchased a new position in Tesla during the fourth quarter valued at $37,000. Finally, Guardian Wealth Management Inc. purchased a new position in Tesla during the fourth quarter valued at $47,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 0.5 %

TSLA traded up $1.05 on Thursday, hitting $197.42. The company had a trading volume of 72,553,203 shares, compared to its average volume of 95,328,453. The company has a market cap of $629.61 billion, a PE ratio of 49.98, a PEG ratio of 4.65 and a beta of 2.32. Tesla, Inc. has a 12-month low of $138.80 and a 12-month high of $299.29. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.04. The business’s fifty day simple moving average is $175.83 and its 200 day simple moving average is $192.28.

Tesla (NASDAQ:TSLA) last released 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. The company had revenue of $21.30 billion during the quarter, compared to analyst estimates of $22.15 billion. Tesla had a return on equity of 13.18% and a net margin of 14.37%. Equities research analysts expect that Tesla, Inc. will post 1.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Truist Financial lowered their target price on Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. Cantor Fitzgerald reiterated an “overweight” rating and set a $230.00 target price on shares of Tesla in a research report on Monday. UBS Group lowered their target price on Tesla from $160.00 to $147.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 24th. Piper Sandler reiterated an “overweight” rating and set a $205.00 target price on shares of Tesla in a research report on Monday, April 22nd. Finally, Guggenheim reissued a “sell” rating and set a $126.00 price target on shares of Tesla in a report on Tuesday. Seven research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $187.30.

Insider Buying and Selling

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 stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was sold at an average price of $174.21, for a total transaction of $113,236.50. Following the completion of the transaction, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Andrew D. Baglino sold 10,500 shares of the business’s stock in a transaction that occurred on 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 owns 31,230 shares of the company’s stock, valued at approximately $5,502,726. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,855 shares of company stock worth $19,285,643. Corporate insiders own 25.10% of the company’s stock.

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.