Castlekeep Investment Advisors LLC Takes $17.78 Million Position in Tesla, Inc. (NASDAQ:TSLA)

Castlekeep Investment Advisors LLC acquired a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 44,019 shares of the electric vehicle producer's stock, valued at approximately $17,777,000. Tesla accounts for about 2.9% of Castlekeep Investment Advisors LLC's holdings, making the stock its 6th biggest holding.

A number of other hedge funds have also bought and sold shares of TSLA. Susquehanna Fundamental Investments LLC bought a new position in shares of Tesla in the fourth quarter worth about $56,600,000. Stephens Consulting LLC raised its stake in shares of Tesla by 126.7% during the fourth quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock valued at $644,000 after acquiring an additional 891 shares in the last quarter. Strategic Family Wealth Counselors L.L.C. boosted its holdings in shares of Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock valued at $1,150,000 after purchasing an additional 1,629 shares during the period. Harvard Management Co. Inc. bought a new position in Tesla in the fourth quarter worth approximately $8,158,000. Finally, Vontobel Holding Ltd. increased its holdings in Tesla by 23.0% during the 4th quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after purchasing an additional 60,342 shares during the period. Institutional investors own 66.20% of the company's stock.

Insider Activity

In related news, Director Robyn M. Denholm sold 112,390 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $299.61, for a total value of $33,673,167.90. Following the sale, the director now directly owns 85,000 shares in the company, valued at approximately $25,466,850. The trade was a 56.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 6,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $296.02, for a total transaction of $1,776,120.00. Following the completion of the transaction, the chief financial officer now owns 23,084 shares in the company, valued at approximately $6,833,325.68. This represents a 20.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 415,623 shares of company stock valued at $116,650,831. 20.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TSLA. Barclays cut their price target on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Wedbush restated an "outperform" rating and issued a $500.00 price target (up previously from $350.00) on shares of Tesla in a report on Friday, May 23rd. The Goldman Sachs Group reissued a "neutral" rating on shares of Tesla in a research note on Tuesday, April 22nd. Needham & Company LLC reiterated a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Finally, Mizuho raised their price objective on Tesla from $325.00 to $390.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Ten analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $293.97.

Tesla Price Performance

Shares of NASDAQ:TSLA traded down $0.27 during midday trading on Wednesday, hitting $362.62. The company had a trading volume of 53,877,030 shares, compared to its average volume of 97,422,650. Tesla, Inc. has a twelve month low of $167.41 and a twelve month high of $488.54. The stock has a market cap of $1.17 trillion, a price-to-earnings ratio of 177.62, a price-to-earnings-growth ratio of 5.86 and a beta of 2.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. The business's 50-day simple moving average is $281.93 and its 200-day simple moving average is $333.59.

Tesla (NASDAQ:TSLA - Get Free Report) last posted 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 company had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a return on equity of 10.31% and a net margin of 7.26%. During the same quarter in the prior year, the firm earned $0.45 EPS. On average, research analysts predict that Tesla, Inc. will post 2.56 earnings per share 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.