CX Institutional Purchases 29,450 Shares of Tesla, Inc. (NASDAQ:TSLA)

CX Institutional raised its stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 64.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,329 shares of the electric vehicle producer's stock after buying an additional 29,450 shares during the period. CX Institutional's holdings in Tesla were worth $19,522,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TSLA. True Wealth Design LLC raised 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 acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its position in shares of Tesla by 75.6% during 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 during the last quarter. GS Investments Inc. grew its holdings in shares of Tesla by 193.3% during the 4th quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares in the last quarter. Navigoe LLC bought a new stake in Tesla in the fourth quarter valued at about $37,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of Tesla in the 4th quarter valued at approximately $38,000. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Tesla Stock Performance

NASDAQ:TSLA traded down $0.93 during mid-day trading on Thursday, hitting $325.50. The stock had a trading volume of 60,210,880 shares, compared to its average volume of 100,514,169. Tesla, Inc. has a twelve month low of $169.80 and a twelve month high of $488.54. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.61 and a current ratio of 2.02. The stock has a market cap of $1.05 trillion, a price-to-earnings ratio of 159.56, a PEG ratio of 5.86 and a beta of 2.47. The company's 50 day simple moving average is $295.60 and its 200 day simple moving average is $333.11.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings results 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). Tesla had a net margin of 7.26% and a return on equity of 10.31%. The business had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. During the same period in the prior year, the business earned $0.45 EPS. On average, equities research analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Robyn M. Denholm sold 112,395 shares of the firm's stock in a transaction on 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 transaction, the director now owns 85,000 shares in the company, valued at approximately $23,300,200. This trade represents a 56.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vaibhav Taneja sold 4,000 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. Following the sale, the chief financial officer now owns 26,950 shares in the company, valued at $6,737,500. This represents a 12.92% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 818,509 shares of company stock valued at $273,791,775. Insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TSLA. BNP Paribas set a $137.00 target price on shares of Tesla and gave the company an "underperform" rating in a research note on Wednesday, April 16th. Raymond James downgraded shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Royal Bank of Canada dropped their price objective on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Cowen upgraded Tesla from a "hold" rating to a "buy" rating in a research report on Thursday, March 6th. Finally, Glj Research restated a "sell" rating and set a $19.05 target price (down previously from $24.86) on shares of Tesla in a research report on Monday, April 21st. 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 given a strong buy rating to the company. According to MarketBeat.com, Tesla currently has an average rating of "Hold" and a consensus price target of $293.67.

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.