Argent Advisors Inc. Invests $323,000 in Tesla, Inc. (NASDAQ:TSLA)

Argent Advisors Inc. purchased a new position in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,245 shares of the electric vehicle producer's stock, valued at approximately $323,000.

A number of other hedge funds have also added to or reduced their stakes in TSLA. Wealth Group Ltd. bought a new position in Tesla in the fourth quarter worth approximately $275,000. Tallon Kerry Patrick bought a new stake in shares of Tesla during the 4th quarter valued at $374,000. Eagle Capital Management LLC purchased a new stake in shares of Tesla in the 4th quarter worth $331,000. Brighton Jones LLC lifted its position in Tesla by 11.8% during the fourth quarter. Brighton Jones LLC now owns 87,929 shares of the electric vehicle producer's stock valued at $35,509,000 after purchasing an additional 9,293 shares in the last quarter. Finally, Revolve Wealth Partners LLC grew its holdings in Tesla by 21.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after purchasing an additional 931 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TSLA. Needham & Company LLC reaffirmed a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Argus reiterated a "hold" rating on shares of Tesla in a research report on Monday, June 9th. Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a research note on Tuesday, March 18th. Finally, JPMorgan Chase & Co. reduced their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a report on Wednesday, April 23rd. Ten analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $301.24.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the sale, the chief financial officer owned 1,950 shares in the company, valued at approximately $664,989. The trade was a 75.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director owned 1,463,220 shares in the company, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 833,509 shares of company stock valued at $278,648,925. Corporate insiders own 20.70% of the company's stock.

Tesla Stock Down 0.6%

Shares of Tesla stock traded down $1.76 on Thursday, reaching $313.89. The stock had a trading volume of 57,182,796 shares, compared to its average volume of 101,394,742. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.01 trillion, a P/E ratio of 172.57, a P/E/G ratio of 11.41 and a beta of 2.39. The company has a 50 day moving average price of $319.28 and a 200 day moving average price of $328.10. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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). The business had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the previous year, the business earned $0.45 EPS. As a group, equities research analysts forecast that Tesla, Inc. will post 2.56 EPS for the current 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.