Clarity Wealth Advisors LLC Has $2.21 Million Holdings in Tesla, Inc. (NASDAQ:TSLA)

Clarity Wealth Advisors LLC increased its holdings in shares of Tesla, Inc. (NASDAQ:TSLA) by 15.4% in the 1st quarter, HoldingsChannel.com reports. The firm 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 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Wyrmwood Management LLC acquired a new stake in Tesla in the fourth quarter valued at $25,000. Lam Group Inc. bought a new position in Tesla during the fourth quarter worth about $25,000. Mendota Financial Group LLC increased 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 worth $34,000 after buying an additional 91 shares during the last quarter. OLD Point Trust & Financial Services N A acquired a new position in shares of Tesla during the 4th quarter worth approximately $37,000. Finally, Guardian Wealth Management Inc. bought a new position in shares of Tesla in the fourth quarter valued at about $47,000. Institutional investors own 66.20% of the company’s stock.

Insider Buying and Selling at Tesla

In related news, SVP Xiaotong Zhu sold 650 shares of Tesla stock in a transaction 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 sale, 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 legal filing with the SEC, which is accessible through the SEC website. In related news, Director Robyn M. Denholm sold 93,705 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $184.86, for a total value of $17,322,306.30. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,772,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $113,236.50. Following the completion of the sale, the senior vice president now 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. Over the last quarter, insiders sold 104,855 shares of company stock valued at $19,285,643. Company insiders own 25.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on TSLA shares. New Street Research restated a “buy” rating and issued a $235.00 price target on shares of Tesla in a research note on Tuesday, June 25th. Bank of America raised shares of Tesla from a “neutral” rating to a “buy” rating and set a $220.00 target price on the stock in a report on Wednesday, April 24th. Wells Fargo & Company decreased their price objective on shares of Tesla from $125.00 to $120.00 and set an “underweight” rating on the stock in a research note on Friday, April 12th. JPMorgan Chase & Co. cut their target price on Tesla from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Wednesday, April 3rd. Finally, Jefferies Financial Group reduced their price objective on Tesla from $185.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, April 10th. Seven equities 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. Based on data from MarketBeat, Tesla presently has a consensus rating of “Hold” and a consensus price target of $187.30.

Tesla Trading Up 0.2 %

NASDAQ TSLA traded up $0.46 during trading hours on Friday, hitting $197.88. 95,438,068 shares of the company’s stock were exchanged, compared to its average volume of 68,945,696. The firm has a market cap of $631.08 billion, a price-to-earnings ratio of 50.48, a PEG ratio of 4.91 and a beta of 2.32. Tesla, Inc. has a 1-year low of $138.80 and a 1-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 stock has a 50-day simple moving average of $177.80 and a 200 day simple moving average of $191.38.

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

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.