Tesla, Inc. (NASDAQ:TSLA) Shares Acquired by Bell Bank

Bell Bank raised its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 9.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 14,956 shares of the electric vehicle producer's stock after purchasing an additional 1,263 shares during the quarter. Bell Bank's holdings in Tesla were worth $3,876,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PKO Investment Management Joint Stock Co grew its holdings in Tesla by 117.5% during the first quarter. PKO Investment Management Joint Stock Co now owns 58,300 shares of the electric vehicle producer's stock worth $15,109,000 after acquiring an additional 31,500 shares during the period. Insigneo Advisory Services LLC boosted its position in shares of Tesla by 25.1% during the 1st quarter. Insigneo Advisory Services LLC now owns 45,756 shares of the electric vehicle producer's stock worth $11,858,000 after purchasing an additional 9,167 shares in the last quarter. Demars Financial Group LLC acquired a new position in shares of Tesla during the 1st quarter worth $61,988,000. Pacific Capital Wealth Advisors Inc. grew its stake in shares of Tesla by 7.1% during the 1st quarter. Pacific Capital Wealth Advisors Inc. now owns 4,082 shares of the electric vehicle producer's stock worth $1,058,000 after purchasing an additional 269 shares during the period. Finally, Edge Financial Advisors LLC grew its stake in shares of Tesla by 3.5% during the 1st quarter. Edge Financial Advisors LLC now owns 2,075 shares of the electric vehicle producer's stock worth $538,000 after purchasing an additional 71 shares during the period. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Trading Up 1.8%

NASDAQ:TSLA traded up $5.70 on Wednesday, hitting $322.05. 94,677,402 shares of the stock were exchanged, compared to its average volume of 100,787,044. The stock has a market cap of $1.04 trillion, a PE ratio of 176.95, a PEG ratio of 11.88 and a beta of 2.47. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The stock has a fifty day moving average of $302.42 and a 200-day moving average of $332.66. Tesla, Inc. has a fifty-two week low of $179.66 and a fifty-two week high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly 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). The firm had revenue of $19.34 billion for 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 quarter in the prior year, the company earned $0.45 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ira Matthew Ehrenpreis sold 477,572 shares of the stock in a transaction dated 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 owns 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. Following the completion of the sale, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. This trade represents a 12.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 over the last three months. 20.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Tesla from $420.00 to $345.00 and set a "buy" rating for the company in a report on Friday, March 28th. Baird R W cut shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Glj Research reiterated a "sell" rating and set a $19.05 target price (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a research report on Wednesday, April 23rd. Finally, Robert W. Baird reiterated a "neutral" rating and set a $320.00 target price on shares of Tesla in a research report on Monday, June 9th. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $293.67.

Tesla Company 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.