Requisite Capital Management LLC Takes $906,000 Position in Tesla, Inc. (NASDAQ:TSLA)

Requisite Capital Management LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,495 shares of the electric vehicle producer's stock, valued at approximately $906,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. True Wealth Design LLC raised its stake in Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. increased its position in 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 buying an additional 34 shares during the period. GS Investments Inc. raised 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 valued at $36,000 after purchasing an additional 58 shares during the last quarter. Navigoe LLC acquired a new stake in shares of Tesla during the fourth quarter worth about $37,000. Finally, CoreFirst Bank & Trust acquired a new stake in Tesla during the 4th quarter worth approximately $38,000. 66.20% of the stock is owned by institutional investors and hedge funds.

Tesla Stock Up 5.7%

NASDAQ:TSLA traded up $17.51 during trading hours on Tuesday, hitting $326.09. The stock had a trading volume of 150,182,854 shares, compared to its average volume of 100,229,452. The company has a market cap of $1.05 trillion, a PE ratio of 159.85, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. The business has a 50 day simple moving average of $292.68 and a two-hundred day simple moving average of $333.20. Tesla, Inc. has a 1-year low of $167.41 and a 1-year high of $488.54. The company has a current ratio of 2.02, a quick ratio of 1.61 and a debt-to-equity ratio of 0.08.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $22.93 billion. During the same period in the previous year, the business posted $0.45 earnings per share. Analysts predict that Tesla, Inc. will post 2.56 EPS for the current year.

Insider Activity

In related news, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the sale, the director now owns 1,463,220 shares in the company, valued at $522,940,195.80. This represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 818,509 shares of company stock worth $273,791,775 over the last ninety days. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Benchmark restated a "buy" rating and issued a $350.00 target price on shares of Tesla in a research note on Wednesday, April 23rd. Argus reissued a "hold" rating on shares of Tesla in a report on Monday. UBS Group decreased their price target on Tesla from $225.00 to $190.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. Robert W. Baird restated a "neutral" rating and set a $320.00 target price on shares of Tesla in a research report on Monday. Finally, Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the company a "buy" rating in a report on Thursday, April 24th. Ten analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $293.67.

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.