Hobart Private Capital LLC Takes Position in Tesla, Inc. (NASDAQ:TSLA)

Hobart Private Capital LLC bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,304 shares of the electric vehicle producer's stock, valued at approximately $338,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. True Wealth Design LLC grew its holdings in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Horrell Capital Management Inc. grew its holdings in shares of Tesla by 75.6% during the fourth 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. lifted its position in Tesla by 193.3% in the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after buying an additional 58 shares during the last quarter. Navigoe LLC bought a new stake in Tesla in the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling

In other news, CFO Vaibhav Taneja sold 6,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total value of $1,776,120.00. Following the sale, the chief financial officer now directly owns 23,084 shares of the company's stock, valued at approximately $6,833,325.68. This represents a 20.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction on Tuesday, May 27th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 984,783 shares of company stock valued at $320,019,942 over the last ninety days. Company insiders own 20.70% of the company's stock.

Analyst Upgrades and Downgrades

TSLA has been the subject of a number of recent research reports. JPMorgan Chase & Co. dropped their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen downgraded Tesla from a "hold" rating to a "sell" rating in a research report on Friday, January 31st. Canaccord Genuity Group dropped their target price on Tesla from $404.00 to $303.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Glj Research restated a "sell" rating and issued a $19.05 target price (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Finally, Oppenheimer restated a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Ten analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $293.97.

Tesla Stock Down 2.6%

TSLA stock traded down $9.34 during midday trading on Friday, hitting $349.09. The stock had a trading volume of 122,996,137 shares, compared to its average volume of 98,033,976. The firm has a market cap of $1.12 trillion, a price-to-earnings ratio of 171.12, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The business has a 50-day moving average of $286.92 and a two-hundred day moving average of $333.95. 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 current ratio of 2.02 and a quick ratio of 1.61.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly 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 return on equity of 10.31% and a net margin of 7.26%. During the same period in the previous year, the company earned $0.45 earnings per share. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 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.