Colonial River Investments LLC Grows Position in Tesla, Inc. (NASDAQ:TSLA)

Colonial River Investments LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 60.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,824 shares of the electric vehicle producer's stock after purchasing an additional 3,695 shares during the quarter. Tesla makes up about 1.4% of Colonial River Investments LLC's investment portfolio, making the stock its 11th largest holding. Colonial River Investments LLC's holdings in Tesla were worth $2,546,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Group Ltd. purchased a new position in Tesla during the fourth quarter valued at $275,000. Tallon Kerry Patrick purchased a new position in Tesla during the fourth quarter valued at $374,000. Eagle Capital Management LLC purchased a new position in Tesla during the fourth quarter valued at $331,000. Brighton Jones LLC raised its stake 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 during the last quarter. Finally, Revolve Wealth Partners LLC raised its stake 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 buying an additional 931 shares during the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Buying and Selling at Tesla

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 67,600 shares in the company, valued at $21,889,556. This represents a 18.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Vaibhav Taneja sold 1,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the sale, the chief financial officer now owns 1,950 shares in the company, valued at approximately $682,500. This trade represents a 33.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 833,509 shares of company stock worth $278,648,925 over the last ninety days. Company insiders own 20.70% of the company's stock.

Tesla Stock Down 0.7%

Shares of TSLA opened at $323.63 on Monday. The stock has a market capitalization of $1.04 trillion, a price-to-earnings ratio of 177.82, a price-to-earnings-growth ratio of 12.20 and a beta of 2.47. Tesla, Inc. has a 1 year low of $182.00 and a 1 year high of $488.54. The business's 50 day simple moving average is $314.93 and its 200-day simple moving average is $329.21. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54.

Tesla (NASDAQ:TSLA - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (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 analysts' expectations of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period last 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.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSLA. Stifel Nicolaus set a $450.00 price objective on Tesla and gave the company a "buy" rating in a research note on Thursday, April 24th. Glj Research restated a "sell" rating and issued a $19.05 price target (down previously from $24.86) on shares of Tesla in a research note on Monday, April 21st. Mizuho boosted their price target on Tesla from $325.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. JPMorgan Chase & Co. decreased their price target on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Raymond James Financial cut Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Ten investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $298.37.

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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