Milestone Asset Management Group LLC Makes New Investment in Tesla, Inc. (NASDAQ:TSLA)

Milestone Asset Management Group LLC acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,936 shares of the electric vehicle producer's stock, valued at approximately $1,186,000.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Tesla in the 4th quarter worth $14,420,248,000. FMR LLC increased its holdings in shares of Tesla by 40.1% in the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. Strategic Financial Concepts LLC increased its stake in Tesla by 36,790.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 8,660,672 shares of the electric vehicle producer's stock worth $3,497,526,000 after acquiring an additional 8,637,195 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock worth $2,356,288,000 after acquiring an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after buying an additional 5,075,418 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Mizuho boosted their price target on Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Glj Research reiterated a "sell" rating and set a $19.05 price target (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. Roth Mkm decreased their price objective on Tesla from $450.00 to $395.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley reissued a "buy" rating and issued a $430.00 price target on shares of Tesla in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $293.97.

Tesla Trading Down 2.6%

NASDAQ TSLA traded down $9.34 on Friday, reaching $349.09. The company had a trading volume of 122,996,137 shares, compared to its average volume of 98,157,709. The firm has a market cap of $1.12 trillion, a price-to-earnings ratio of 171.12, a P/E/G ratio of 5.86 and a beta of 2.43. Tesla, Inc. has a fifty-two week low of $167.41 and a fifty-two week high of $488.54. The business has a 50 day moving average of $286.92 and a two-hundred day moving average of $334.13. 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 released its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 10.31% and a net margin of 7.26%. The company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same period last year, the company earned $0.45 EPS. Analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Transactions at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the business's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total value of $13,189,513.04. Following the completion of the sale, the director now directly owns 477,011 shares of the company's stock, valued at $114,859,478.69. The trade was a 10.30% decrease in their ownership of the stock. The transaction 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 the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the transaction, the director now directly owns 855,394 shares of the company's stock, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 984,783 shares of company stock worth $320,019,942 in the last quarter. Insiders own 20.70% of the company's stock.

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.