Castleview Partners LLC Purchases 1,360 Shares of Tesla, Inc. $TSLA

Key Points

• Castleview Partners LLC increased its holdings in Tesla by 17.8% in the second quarter, owning a total of 8,992 shares valued at approximately $2.86 million.
• Several hedge funds, including Brighton Jones LLC and Bison Wealth LLC, also boosted their stakes in Tesla during the fourth quarter, reflecting a growing interest among institutional investors.
• Despite recent analyst upgrades raising price targets to as high as $475, Tesla's stock has seen a decline of 4.4% recently, signaling potential volatility in the market.

Castleview Partners LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 17.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,992 shares of the electric vehicle producer's stock after acquiring an additional 1,360 shares during the quarter. Tesla comprises approximately 1.8% of Castleview Partners LLC's holdings, making the stock its 9th largest position. Castleview Partners LLC's holdings in Tesla were worth $2,856,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brighton Jones LLC raised its holdings 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 buying an additional 9,293 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Tesla by 21.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 5,317 shares of the electric vehicle producer's stock valued at $2,147,000 after acquiring an additional 931 shares during the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Tesla in the 4th quarter valued at approximately $346,000. Bison Wealth LLC lifted its holdings in Tesla by 52.2% in the 4th quarter. Bison Wealth LLC now owns 10,368 shares of the electric vehicle producer's stock worth $4,187,000 after purchasing an additional 3,558 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its position in Tesla by 36.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 11,989 shares of the electric vehicle producer's stock worth $4,842,000 after purchasing an additional 3,224 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Daiwa Capital Markets reissued a "neutral" rating on shares of Tesla in a research report on Sunday, July 27th. Mizuho lifted their target price on shares of Tesla from $375.00 to $450.00 and gave the stock an "outperform" rating in a report on Tuesday. Dbs Bank upped their price target on shares of Tesla from $300.00 to $450.00 in a report on Wednesday, September 17th. China Renaissance reiterated a "hold" rating and issued a $349.00 price objective on shares of Tesla in a research note on Friday, July 25th. Finally, Benchmark reissued a "buy" rating and set a $475.00 price objective (up previously from $350.00) on shares of Tesla in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twelve have assigned a Hold rating and nine have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $326.74.

Tesla Stock Down 4.4%

TSLA stock opened at $423.39 on Friday. Tesla, Inc. has a twelve month low of $212.11 and a twelve month high of $488.54. The company has a quick ratio of 1.55, a current ratio of 2.04 and a debt-to-equity ratio of 0.07. The company has a market cap of $1.41 trillion, a PE ratio of 244.73, a price-to-earnings-growth ratio of 15.45 and a beta of 2.06. The business's 50-day simple moving average is $349.83 and its 200 day simple moving average is $312.97.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electric vehicle producer reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $23.18 billion. Tesla had a net margin of 6.54% and a return on equity of 7.98%. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Activity

In related news, SVP Xiaotong Zhu sold 20,000 shares of Tesla stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $363.75, for a total transaction of $7,275,000.00. Following the completion of the transaction, the senior vice president directly owned 47,600 shares of the company's stock, valued at $17,314,500. This trade represents a 29.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James R. Murdoch sold 60,000 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $422.68, for a total transaction of $25,360,800.00. Following the completion of the transaction, the director owned 637,031 shares in the company, valued at approximately $269,260,263.08. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 208,606 shares of company stock worth $77,360,462. Corporate insiders own 19.90% of the company's stock.

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.

Want to see what other hedge funds are holding TSLA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tesla, Inc. (NASDAQ:TSLA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.