Sovereign Financial Group Inc. Has $365,000 Holdings in Tesla, Inc. (NASDAQ:TSLA)

Sovereign Financial Group Inc. boosted its holdings in Tesla, Inc. (NASDAQ:TSLA) by 5.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,076 shares of the electric vehicle producer’s stock after purchasing an additional 102 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Tesla were worth $365,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Apexium Financial LP raised its holdings in Tesla by 736.8% in the 4th quarter. Apexium Financial LP now owns 24,954 shares of the electric vehicle producer’s stock valued at $6,201,000 after acquiring an additional 21,972 shares in the last quarter. Mount Vernon Associates Inc. MD increased its position in shares of Tesla by 5.3% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 6,940 shares of the electric vehicle producer’s stock worth $1,724,000 after purchasing an additional 350 shares during the period. Forum Financial Management LP raised its stake in Tesla by 19.7% in the fourth quarter. Forum Financial Management LP now owns 21,772 shares of the electric vehicle producer’s stock valued at $5,410,000 after purchasing an additional 3,582 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in Tesla by 16.6% during the fourth quarter. J.W. Cole Advisors Inc. now owns 46,414 shares of the electric vehicle producer’s stock worth $11,533,000 after purchasing an additional 6,615 shares during the period. Finally, Catalyst Financial Partners LLC grew its stake in Tesla by 9.4% during the fourth quarter. Catalyst Financial Partners LLC now owns 6,978 shares of the electric vehicle producer’s stock worth $1,734,000 after buying an additional 598 shares in the last quarter. Institutional investors own 66.20% of the company’s stock.

Insider Transactions at Tesla

In related 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 transaction of $113,236.50. Following the completion of the sale, the senior vice president now owns 65,155 shares in the company, valued at $11,350,652.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related 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 transaction of $1,850,100.00. Following the transaction, the senior vice president now directly owns 31,230 shares of the company’s stock, valued at $5,502,726. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 650 shares of the company’s 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 of the company’s stock, valued at $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 ninety days. 25.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TSLA has been the subject of a number of recent analyst reports. Mizuho cut their price target on shares of Tesla from $195.00 to $180.00 and set a “neutral” rating for the company in a report on Wednesday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $230.00 target price on shares of Tesla in a report on Monday. Needham & Company LLC reissued a “hold” rating on shares of Tesla in a report on Wednesday, April 24th. Robert W. Baird restated an “outperform” rating and set a $280.00 price objective on shares of Tesla in a research report on Wednesday, April 17th. Finally, Canaccord Genuity Group decreased their target price on Tesla from $234.00 to $222.00 and set a “buy” 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $187.30.

Tesla Price Performance

Shares of TSLA opened at $197.42 on Friday. The business’s fifty day moving average is $175.83 and its 200 day moving average is $192.28. 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 stock has a market cap of $629.61 billion, a P/E ratio of 50.36, a P/E/G ratio of 4.87 and a beta of 2.32.

Tesla (NASDAQ:TSLA) last issued its quarterly earnings data on Tuesday, April 23rd. The electric vehicle producer reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $22.15 billion. Sell-side analysts anticipate that Tesla, Inc. will post 1.87 earnings per share 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.