Kingstone Capital Partners Texas LLC Takes $447,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Kingstone Capital Partners Texas LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,106 shares of the electric vehicle producer's stock, valued at approximately $447,000.

Several other hedge funds have also bought and sold shares of the stock. ARQ Wealth Advisors LLC bought a new stake in Tesla during the fourth quarter valued at approximately $849,000. Blue Sky Capital Consultants Group Inc. bought a new stake in Tesla during the fourth quarter valued at approximately $21,416,000. Richmond Investment Services LLC bought a new stake in Tesla during the fourth quarter valued at approximately $705,000. Invst LLC lifted its position in Tesla by 8.7% during the fourth quarter. Invst LLC now owns 3,657 shares of the electric vehicle producer's stock valued at $1,477,000 after purchasing an additional 294 shares during the last quarter. Finally, Cache Advisors LLC bought a new stake in Tesla during the fourth quarter valued at approximately $8,462,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Up 6.9%

Shares of NASDAQ:TSLA traded up $23.55 during midday trading on Tuesday, reaching $362.89. The company's stock had a trading volume of 117,469,899 shares, compared to its average volume of 97,579,869. The firm has a 50 day moving average of $279.40 and a 200-day moving average of $333.38. The firm has a market capitalization of $1.17 trillion, a P/E ratio of 177.89, a PEG ratio of 5.86 and a beta of 2.43. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period last year, the company posted $0.45 earnings per share. On average, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Tesla from a "hold" rating to a "sell" rating in a report on Friday, January 31st. UBS Group lowered their price objective on shares of Tesla from $225.00 to $190.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Morgan Stanley restated a "buy" rating and issued a $430.00 price objective on shares of Tesla in a report on Tuesday, April 22nd. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $180.00 to $388.00 in a report on Friday, March 7th. Finally, Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average target price of $293.97.

Insider Activity at Tesla

In related news, CFO Vaibhav Taneja sold 2,672 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $268.73, for a total transaction of $718,046.56. Following the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at approximately $7,242,273.50. This represents a 9.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James R. Murdoch sold 54,776 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the sale, the director now directly owns 477,011 shares in the company, valued at $114,859,478.69. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 415,623 shares of company stock valued at $116,650,831. 20.70% of the stock is owned by 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.