CV Advisors LLC Increases Stock Position in Tesla, Inc. (NASDAQ:TSLA)

CV Advisors LLC lifted its holdings in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 39.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,632 shares of the electric vehicle producer's stock after buying an additional 1,022 shares during the period. Tesla comprises 0.3% of CV Advisors LLC's investment portfolio, making the stock its 19th biggest holding. CV Advisors LLC's holdings in Tesla were worth $941,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Norges Bank purchased a new stake in shares of Tesla in the 4th quarter worth about $14,420,248,000. FMR LLC raised its position in shares of Tesla by 40.1% during the 4th quarter. FMR LLC now owns 34,661,400 shares of the electric vehicle producer's stock worth $13,997,660,000 after purchasing an additional 9,920,325 shares during the last quarter. GAMMA Investing LLC lifted its stake in Tesla by 27,378.6% in the 1st quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after buying an additional 9,776,607 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Tesla by 4,963.0% during the 4th 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 buying an additional 5,719,466 shares during the last quarter. Finally, Northern Trust Corp increased its position in Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock worth $11,541,592,000 after buying an additional 5,075,418 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Vaibhav Taneja sold 4,000 shares of the business's 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 completion of the transaction, the chief financial officer now owns 26,950 shares of the company's stock, valued at approximately $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Xiaotong Zhu sold 15,000 shares of the stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 67,600 shares in the company, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 833,509 shares of company stock valued at $278,648,925. Company insiders own 20.70% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays decreased their price objective on Tesla from $325.00 to $275.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. Robert W. Baird reaffirmed a "neutral" rating and set a $320.00 price target on shares of Tesla in a research note on Monday, June 9th. Benchmark reissued a "buy" rating and issued a $350.00 price objective on shares of Tesla in a research report on Wednesday, April 23rd. Raymond James Financial lowered shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Finally, Glj Research reiterated a "sell" rating and issued a $19.05 price target (down from $24.86) on shares of Tesla in a report on Monday, April 21st. Ten equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $294.58.

Tesla Price Performance

Shares of NASDAQ TSLA opened at $348.68 on Tuesday. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 191.58, a price-to-earnings-growth ratio of 12.05 and a beta of 2.47. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54. The business has a 50 day simple moving average of $308.14 and a 200-day simple moving average of $331.42.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 earnings per share 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 the consensus estimate of $22.93 billion. Tesla had a net margin of 6.66% and a return on equity of 9.02%. During the same quarter in the previous year, the firm earned $0.45 EPS. As a group, equities research analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Tesla Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.