Cary Street Partners Financial LLC Makes New $3.20 Million Investment in Tesla, Inc. (NASDAQ:TSLA)

Cary Street Partners Financial LLC acquired a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,915 shares of the electric vehicle producer's stock, valued at approximately $3,196,000.

Several other institutional investors and hedge funds have also bought and sold shares of TSLA. Horrell Capital Management Inc. boosted its position in shares of Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock worth $32,000 after purchasing an additional 34 shares in the last quarter. GS Investments Inc. grew its stake in shares of Tesla by 193.3% in the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Navigoe LLC bought a new position in shares of Tesla during the fourth quarter valued at $37,000. CoreFirst Bank & Trust purchased a new position in shares of Tesla in the 4th quarter worth about $38,000. Finally, Marshall & Sterling Wealth Advisors Inc. bought a new position in Tesla in the 4th quarter worth about $39,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Price Performance

TSLA stock traded up $13.23 during trading on Friday, hitting $298.05. 131,906,136 shares of the company's stock traded hands, compared to its average volume of 96,026,554. The stock has a market capitalization of $960.01 billion, a price-to-earnings ratio of 146.10, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a 52 week low of $167.41 and a 52 week high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The business has a fifty day simple moving average of $258.13 and a 200 day simple moving average of $326.09.

Tesla (NASDAQ:TSLA - Get Free Report) last announced 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 firm had revenue of $19.34 billion during the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period in the prior year, the company posted $0.45 EPS. As a group, research analysts expect that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TSLA shares. Guggenheim reiterated a "sell" rating and issued a $170.00 target price on shares of Tesla in a research note on Thursday, April 24th. Raymond James lowered Tesla to an "outperform" rating in a report on Tuesday, April 22nd. TD Cowen raised Tesla from a "hold" rating to a "buy" rating and upped their price target for the company from $180.00 to $388.00 in a report on Friday, March 7th. Cowen upgraded Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Finally, Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has an average rating of "Hold" and an average target price of $287.46.

Insider Transactions at Tesla

In other news, Director James R. Murdoch sold 54,776 shares of Tesla stock in a transaction on Monday, March 10th. The stock was sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares in the company, valued at approximately $114,859,478.69. This trade represents a 10.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 2,672 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $268.73, for a total transaction of $718,046.56. Following the completion of the transaction, the chief financial officer now owns 26,950 shares in the company, valued at approximately $7,242,273.50. The trade was a 9.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 408,623 shares of company stock worth $114,400,501. 20.70% of the stock is currently owned by company insiders.

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.