Tesla, Inc. (NASDAQ:TSLA) Holdings Raised by Hoey Investments Inc.

Hoey Investments Inc. grew its position in Tesla, Inc. (NASDAQ:TSLA) by 131.0% in the first quarter, Holdings Channel.com reports. The fund owned 2,151 shares of the electric vehicle producer’s stock after buying an additional 1,220 shares during the period. Hoey Investments Inc.’s holdings in Tesla were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Susquehanna Fundamental Investments LLC bought a new position in shares of Tesla in the fourth quarter worth $56,600,000. Focus Financial Network Inc. lifted its holdings in shares of Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer’s stock valued at $5,823,000 after purchasing an additional 670 shares during the last quarter. Strategic Family Wealth Counselors L.L.C. raised its position in Tesla by 133.7% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer’s stock valued at $1,150,000 after buying an additional 1,629 shares during the period. Harvard Management Co. Inc. acquired a new position in Tesla during the fourth quarter valued at $8,158,000. Finally, Vontobel Holding Ltd. increased its position in Tesla by 23.0% in the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer’s stock worth $130,158,000 after purchasing an additional 60,342 shares during the last quarter. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Performance

TSLA stock opened at $325.31 on Friday. The business’s 50-day moving average price is $299.39 and its two-hundred day moving average price is $332.88. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08. The firm has a market cap of $1.05 trillion, a PE ratio of 159.47, a P/E/G ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 1-year low of $176.92 and a 1-year high of $488.54.

Tesla (NASDAQ:TSLA) last posted its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.26). The business had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the prior year, the firm posted $0.45 earnings per share. As a group, research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on TSLA shares. Stifel Nicolaus set a $450.00 target price on Tesla and gave the company a “buy” rating in a research note on Thursday, April 24th. Roth Mkm reduced their price objective on Tesla from $450.00 to $395.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. Raymond James cut Tesla to an “outperform” rating in a report on Tuesday, April 22nd. UBS Group dropped their price target on Tesla from $225.00 to $190.00 and set a “sell” rating for the company in a report on Thursday, April 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $350.00 price target on shares of Tesla in a report on Wednesday, April 23rd. Ten research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and a consensus target price of $293.67.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,564 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $285.71, for a total value of $732,560.44. Following the sale, the chief financial officer now directly owns 5,924 shares in the company, valued at $1,692,546.04. The trade was a 30.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the completion of the sale, the director now directly owns 855,394 shares in the company, valued at approximately $305,632,276.20. This represents a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 818,509 shares of company stock worth $273,791,775 over the last three months. Corporate insiders own 20.70% of the company’s stock.

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.