Cobblestone Asset Management LLC Purchases Shares of 1,371 Tesla, Inc. (NASDAQ:TSLA)

Cobblestone Asset Management LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,371 shares of the electric vehicle producer's stock, valued at approximately $355,000.

A number of other hedge funds have also made changes to their positions in TSLA. Norges Bank acquired a new position in shares of Tesla during the fourth quarter valued at approximately $14,420,248,000. FMR LLC increased its stake in shares of Tesla by 40.1% during the fourth quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock valued at $13,997,660,000 after acquiring an additional 9,920,325 shares during the period. GAMMA Investing LLC increased its stake in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after acquiring an additional 9,776,607 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Tesla by 4,963.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,834,707 shares of the electric vehicle producer's stock valued at $2,356,288,000 after acquiring an additional 5,719,466 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after acquiring an additional 5,075,418 shares during the period. Institutional investors and hedge funds own 66.20% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of a number of research analyst reports. BNP Paribas set a $137.00 price objective on shares of Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Wedbush reissued an "outperform" rating and set a $500.00 target price on shares of Tesla in a research note on Friday. Finally, Baird R W downgraded shares of Tesla from a "strong-buy" rating to a "hold" rating in a research note on Monday, June 9th. Ten investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $293.67.

Insider Buying and Selling at Tesla

In other news, CFO Vaibhav Taneja sold 4,000 shares of Tesla stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the transaction, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. This trade represents a 12.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the transaction, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 833,509 shares of company stock valued at $278,648,925. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

NASDAQ:TSLA opened at $322.16 on Friday. 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 firm has a market capitalization of $1.04 trillion, a PE ratio of 177.01, a price-to-earnings-growth ratio of 12.04 and a beta of 2.47. The firm has a 50-day moving average price of $306.22 and a 200 day moving average price of $332.14. Tesla, Inc. has a 12-month low of $180.69 and a 12-month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same period in the prior year, the business earned $0.45 EPS. Research analysts anticipate that Tesla, Inc. will post 2.56 earnings per share for the current fiscal 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.

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