Connecticut Capital Management Group LLC Invests $603,000 in Tesla, Inc. $TSLA

Key Points

• Connecticut Capital Management Group disclosed a new fourth-quarter stake in Tesla, buying 1,341 shares valued at about $603,000.
• Tesla continues to attract broad institutional interest, with several other funds adding positions and 66.20% of the stock now owned by institutional investors.
• Wall Street’s view remains mixed: analysts have Tesla at an average “Hold” rating with a $395.20 price target, even as the stock traded higher and Tesla reported quarterly earnings that beat expectations on EPS but missed on revenue.

Connecticut Capital Management Group LLC bought a new position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,341 shares of the electric vehicle producer's stock, valued at approximately $603,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Networth Advisors LLC bought a new stake in shares of Tesla during the fourth quarter worth about $26,000. Chapman Financial Group LLC bought a new stake in shares of Tesla during the second quarter worth about $26,000. Davidson Capital Management Inc. increased its position in shares of Tesla by 79.4% during the fourth quarter. Davidson Capital Management Inc. now owns 61 shares of the electric vehicle producer's stock worth $27,000 after acquiring an additional 27 shares in the last quarter. Prism Advisors Inc. bought a new stake in shares of Tesla during the fourth quarter worth about $30,000. Finally, Turning Point Benefit Group Inc. bought a new stake in shares of Tesla during the third quarter worth about $30,000. 66.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TSLA has been the subject of a number of recent analyst reports. BNP Paribas Exane raised shares of Tesla from an "underperform" rating to a "neutral" rating in a research report on Monday, April 27th. Stifel Nicolaus set a $508.00 price objective on shares of Tesla in a research report on Thursday, January 29th. Wells Fargo & Company reduced their price objective on shares of Tesla from $130.00 to $125.00 and set an "underweight" rating for the company in a research report on Thursday, January 29th. HSBC initiated coverage on shares of Tesla in a research report on Monday, April 27th. They issued a "buy" rating for the company. Finally, China Renaissance reduced their price objective on shares of Tesla from $382.00 to $372.00 and set a "hold" rating for the company in a research report on Monday, April 27th. Nineteen equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $395.20.

Tesla Stock Up 1.6%

TSLA opened at $440.36 on Thursday. The company has a quick ratio of 1.62, a current ratio of 2.04 and a debt-to-equity ratio of 0.09. The stock has a market cap of $1.65 trillion, a price-to-earnings ratio of 404.00, a PEG ratio of 17.12 and a beta of 1.79. Tesla, Inc. has a twelve month low of $273.21 and a twelve month high of $498.83. The company's 50-day moving average price is $390.12 and its two-hundred day moving average price is $416.18.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Thursday, April 23rd. The electric vehicle producer reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.02. The firm had revenue of $22.39 billion for the quarter, compared to analysts' expectations of $22.96 billion. Tesla had a net margin of 3.95% and a return on equity of 4.89%. The company's quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.27 earnings per share. As a group, equities analysts expect that Tesla, Inc. will post 1.2 earnings per share for the current year.

Key Headlines Impacting Tesla

Here are the key news stories impacting Tesla this week:

• Positive Sentiment: Tesla’s European sales momentum appears to be improving, with multiple reports citing April registrations up sharply year over year and suggesting the EV business is regaining traction after a long slump. Tesla Logs Strong Growth in European Monthly Sales
• Positive Sentiment: Wall Street is also focusing on Tesla’s robotaxi and Optimus opportunities, with coverage saying a new patent could protect future revenue drivers and that the stock is approaching a technical breakout setup. Tesla Patent Could Protect Two Biggest Future Revenue Drivers: Here's Why 'Lens Cleaning System' May Matter
• Positive Sentiment: Renewed speculation around a possible SpaceX-Tesla tie-up is adding excitement, with reports and commentary suggesting the rumored SpaceX IPO could become a major long-term catalyst for Tesla shareholders. SpaceX-Tesla merger chatter reignites as Musk pushes rocket company towards Nasdaq

Insider Transactions at Tesla

In other Tesla news, Director Kathleen Wilson-Thompson sold 26,409 shares of the business's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $378.11, for a total value of $9,985,506.99. Following the transaction, the director directly owned 48,399 shares in the company, valued at $18,300,145.89. The trade was a 35.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vaibhav Taneja sold 3,000 shares of the business's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the completion of the transaction, the chief financial officer owned 18,106 shares in the company, valued at approximately $8,147,700. The trade was a 14.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 57,482 shares of company stock worth $21,508,331. Corporate insiders own 19.90% of the company's stock.

Tesla Profile

Tesla, Inc NASDAQ: TSLA is an American company that designs, manufactures and sells electric vehicles, energy generation and energy storage products. Founded in 2003 by Martin Eberhard and Marc Tarpenning, Tesla grew into a vertically integrated mobility and clean‑energy company with Elon Musk serving as its chief executive officer. The company's stated mission is to accelerate the world's transition to sustainable energy, reflected in its combined focus on electric drivetrains, battery technology, renewable energy products and software.

Tesla's automotive business includes a lineup of battery‑electric vehicles and related services.

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