Clarity Wealth Advisors LLC Boosts Holdings in Tesla, Inc. (NASDAQ:TSLA)

Clarity Wealth Advisors LLC boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 15.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,544 shares of the electric vehicle producer’s stock after acquiring an additional 1,673 shares during the period. Clarity Wealth Advisors LLC’s holdings in Tesla were worth $2,205,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Wyrmwood Management LLC acquired a new position in shares of Tesla in the fourth quarter worth $25,000. Lam Group Inc. acquired a new position in Tesla during the 4th quarter worth $25,000. Mendota Financial Group LLC raised its position in Tesla by 202.2% in the 4th 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 shares of Tesla in the 4th quarter valued at about $37,000. Finally, Kathleen S. Wright Associates Inc. grew its position 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 buying an additional 100 shares in the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

TSLA traded up $0.46 during trading on Friday, reaching $197.88. The company’s stock had a trading volume of 95,438,068 shares, compared to its average volume of 68,945,696. The company has a market capitalization of $631.08 billion, a price-to-earnings ratio of 50.48, a price-to-earnings-growth ratio of 4.91 and a beta of 2.32. The company’s fifty day moving average price is $177.80 and its 200-day moving average price is $191.38. Tesla, Inc. has a 52-week low of $138.80 and a 52-week high of $299.29. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.17 and a current ratio of 1.72.

Tesla (NASDAQ:TSLA) last announced its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Tesla had a return on equity of 13.18% and a net margin of 14.37%. The firm had revenue of $21.30 billion for the quarter, compared to analyst estimates of $22.15 billion. On average, equities analysts forecast that Tesla, Inc. will post 1.86 earnings per share for the current fiscal year.

Insider Activity at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were 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 in the company, valued at $11,350,652.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tesla news, SVP Xiaotong Zhu sold 650 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $174.21, for a total value of $113,236.50. Following the sale, the senior vice president now owns 65,155 shares of the company’s stock, valued at $11,350,652.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Andrew D. Baglino sold 10,500 shares of the firm’s stock in a transaction 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 completion of 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. Insiders sold 104,855 shares of company stock worth $19,285,643 over the last 90 days. Company insiders own 25.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Truist Financial dropped their price objective on shares of Tesla from $176.00 to $162.00 and set a “hold” rating on the stock in a research report on Wednesday, April 24th. HSBC cut their price target on Tesla from $138.00 to $120.00 and set a “reduce” rating on the stock in a research note on Wednesday, April 24th. New Street Research reaffirmed a “buy” rating and set a $235.00 price objective on shares of Tesla in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft raised their target price on Tesla from $123.00 to $136.00 and gave the stock a “hold” rating in a research report on Thursday, April 25th. Finally, Guggenheim reissued a “sell” rating and set a $126.00 price objective on shares of Tesla in a report on Tuesday, June 25th. Seven research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently 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.