Congress Asset Management Co. Acquires New Stake in Tesla, Inc. (NASDAQ:TSLA)

Congress Asset Management Co. bought a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,215 shares of the electric vehicle producer's stock, valued at approximately $315,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its holdings in shares of Tesla by 79.5% during the 4th quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after buying an additional 31 shares in the last quarter. Horrell Capital Management Inc. lifted its position in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after acquiring an additional 34 shares during the period. GS Investments Inc. boosted its stake in Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Navigoe LLC acquired a new stake in Tesla in the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust bought a new stake in Tesla in the fourth quarter valued at $38,000. Institutional investors own 66.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Glj Research reaffirmed a "sell" rating and issued a $19.05 target price (down from $24.86) on shares of Tesla in a research report on Monday, April 21st. Guggenheim restated a "sell" rating and set a $170.00 price objective on shares of Tesla in a report on Thursday, April 24th. Cantor Fitzgerald cut their target price on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Robert W. Baird reissued a "neutral" rating and issued a $320.00 price target on shares of Tesla in a research report on Monday. Finally, Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating in a report on Thursday, March 6th. Ten analysts have rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Tesla has an average rating of "Hold" and an average target price of $293.67.

Insider Buying and Selling

In other Tesla news, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total value of $30,809,717.40. Following the completion of the transaction, the director now owns 85,000 shares in the company, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Gebbia purchased 4,000 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were bought at an average price of $256.31 per share, for a total transaction of $1,025,240.00. Following the completion of the transaction, the director now owns 4,111 shares of the company's stock, valued at approximately $1,053,690.41. This trade represents a 3,603.60% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 818,509 shares of company stock valued at $273,791,775. Company insiders own 20.70% of the company's stock.

Tesla Stock Performance

Shares of NASDAQ TSLA traded up $17.51 during trading on Tuesday, reaching $326.09. 149,635,141 shares of the stock traded hands, compared to its average volume of 110,040,727. 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 stock has a market capitalization of $1.05 trillion, a P/E ratio of 159.85, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47. Tesla, Inc. has a 52-week low of $167.41 and a 52-week high of $488.54. The company has a 50-day moving average of $292.68 and a 200-day moving average of $333.20.

Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings data 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 business had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same period last year, the company earned $0.45 earnings per share. Analysts forecast that Tesla, Inc. will post 2.56 EPS 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.