Alta Advisers Ltd Has $3.62 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Alta Advisers Ltd lifted its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 49.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,972 shares of the electric vehicle producer's stock after buying an additional 4,600 shares during the quarter. Tesla makes up approximately 1.5% of Alta Advisers Ltd's portfolio, making the stock its 13th biggest position. Alta Advisers Ltd's holdings in Tesla were worth $3,621,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TSLA. Cherry Tree Wealth Management LLC increased its position in Tesla by 86.3% in the 1st quarter. Cherry Tree Wealth Management LLC now owns 95 shares of the electric vehicle producer's stock valued at $25,000 after acquiring an additional 44 shares during the period. First PREMIER Bank raised its stake in shares of Tesla by 79.2% during the first quarter. First PREMIER Bank now owns 95 shares of the electric vehicle producer's stock worth $25,000 after purchasing an additional 42 shares during the last quarter. Newton One Investments LLC lifted its holdings in shares of Tesla by 250.0% during the first quarter. Newton One Investments LLC now owns 105 shares of the electric vehicle producer's stock worth $27,000 after purchasing an additional 75 shares during the period. True Wealth Design LLC grew its position in Tesla by 79.5% in the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock valued at $28,000 after buying an additional 31 shares during the last quarter. Finally, Horrell Capital Management Inc. increased its stake in Tesla by 75.6% in the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after buying an additional 34 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TSLA. Wells Fargo & Company reduced their price objective on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. Oppenheimer reaffirmed a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Stifel Nicolaus set a $450.00 price objective on shares of Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Cfra Research cut shares of Tesla from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $298.37.

Insider Buying and Selling at Tesla

In other Tesla news, CFO Vaibhav Taneja sold 2,564 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $285.71, for a total transaction of $732,560.44. Following the transaction, the chief financial officer directly owned 5,924 shares of the company's stock, valued at $1,692,546.04. This represents a 30.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of the business's stock in a transaction that occurred 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 owned 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 833,509 shares of company stock valued at $278,648,925 in the last 90 days. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $14.94 on Wednesday, hitting $315.65. The company's stock had a trading volume of 119,085,851 shares, compared to its average volume of 101,982,477. The company has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 173.43, a price-to-earnings-growth ratio of 12.06 and a beta of 2.40. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.00. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The stock's 50-day moving average is $317.99 and its two-hundred day moving average is $328.19.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results 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 6.66% and a return on equity of 9.02%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the company earned $0.45 earnings per share. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current year.

Tesla 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.