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Conway Capital Management Inc. Raises Stock Position in Tesla, Inc. (NASDAQ:TSLA)

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Conway Capital Management Inc. lifted its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 21.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,215 shares of the electric vehicle producer's stock after buying an additional 2,640 shares during the period. Tesla comprises approximately 2.0% of Conway Capital Management Inc.'s holdings, making the stock its 13th largest holding. Conway Capital Management Inc.'s holdings in Tesla were worth $3,943,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other Tesla news, Director Kimbal Musk sold 91,588 shares of the business's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the transaction, the director now directly owns 1,463,220 shares in the company, valued at $522,940,195.80. The trade was a 5.89% 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. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $250.00, for a total value 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 approximately $6,737,500. This trade represents a 12.92% 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 valued at $278,648,925 in the last 90 days. 20.70% of the stock is currently owned by corporate insiders.

Tesla Stock Down 3.8%

Shares of TSLA stock traded down $12.40 during trading hours on Tuesday, reaching $316.73. The company had a trading volume of 87,311,908 shares, compared to its average volume of 100,682,398. The business has a fifty day simple moving average of $301.53 and a 200-day simple moving average of $332.77. Tesla, Inc. has a 12 month low of $179.66 and a 12 month high of $488.54. The company has a market cap of $1.02 trillion, a price-to-earnings ratio of 174.03, a price-to-earnings-growth ratio of 12.36 and a beta of 2.47. 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 posted its quarterly earnings data on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.26). Tesla had a return on equity of 9.02% and a net margin of 6.66%. The firm had revenue of $19.34 billion for the quarter, compared to analysts' expectations of $22.93 billion. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TSLA shares. Raymond James Financial downgraded Tesla to an "outperform" rating in a report on Tuesday, April 22nd. Oppenheimer reiterated a "mixed" rating on shares of Tesla in a report on Tuesday, March 18th. Wells Fargo & Company decreased their price target on shares of Tesla from $135.00 to $130.00 and set an "underweight" rating on the stock in a research note on Friday, March 14th. TD Cowen upgraded shares of Tesla from a "hold" rating to a "buy" rating and upped their price target for the company from $180.00 to $388.00 in a research note on Friday, March 7th. Finally, Cantor Fitzgerald reduced their price target on Tesla from $425.00 to $355.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $293.67.

Get Our Latest Analysis on TSLA

Tesla Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Tesla (NASDAQ:TSLA)

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