Floyd Financial Group LLC Grows Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Floyd Financial Group LLC raised its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 87.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,286 shares of the electric vehicle producer's stock after buying an additional 4,337 shares during the period. Tesla comprises approximately 2.2% of Floyd Financial Group LLC's investment portfolio, making the stock its 16th biggest holding. Floyd Financial Group LLC's holdings in Tesla were worth $2,407,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC acquired a new stake in Tesla in the fourth quarter valued at approximately $56,600,000. Stephens Consulting LLC raised its stake in shares of Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer's stock worth $644,000 after purchasing an additional 891 shares during the period. Strategic Family Wealth Counselors L.L.C. raised its stake in shares of Tesla by 133.7% in the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 2,847 shares of the electric vehicle producer's stock valued at $1,150,000 after buying an additional 1,629 shares during the period. Harvard Management Co. Inc. purchased a new stake in Tesla during the 4th quarter worth about $8,158,000. Finally, Vontobel Holding Ltd. grew its position in Tesla by 23.0% during the fourth quarter. Vontobel Holding Ltd. now owns 322,300 shares of the electric vehicle producer's stock worth $130,158,000 after buying an additional 60,342 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on TSLA shares. Barclays reduced 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. Canaccord Genuity Group dropped their target price on shares of Tesla from $404.00 to $303.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Needham & Company LLC reissued a "hold" rating on shares of Tesla in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their price target on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research report on Friday, March 14th. Finally, Oppenheimer reiterated a "mixed" rating on shares of Tesla in a research report on Tuesday, March 18th. Ten equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tesla has a consensus rating of "Hold" and an average target price of $293.97.

Tesla Trading Down 14.3%

Shares of Tesla stock traded down $47.37 during mid-day trading on Thursday, hitting $284.68. The stock had a trading volume of 286,093,850 shares, compared to its average volume of 99,144,964. The firm has a 50-day moving average of $291.12 and a two-hundred day moving average of $334.34. Tesla, Inc. has a 12-month low of $167.41 and a 12-month high of $488.54. The company has a quick ratio of 1.61, a current ratio of 2.02 and a debt-to-equity ratio of 0.08. The firm has a market cap of $916.94 billion, a P/E ratio of 139.55, a price-to-earnings-growth ratio of 5.86 and a beta of 2.47.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $22.93 billion. Tesla had a net margin of 7.26% and a return on equity of 10.31%. During the same quarter in the previous year, the business posted $0.45 earnings per share. Sell-side analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current year.

Insider Buying and Selling at Tesla

In other Tesla news, Director James R. Murdoch sold 54,776 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $240.79, for a total transaction of $13,189,513.04. Following the transaction, the director now directly owns 477,011 shares of the company's stock, valued at approximately $114,859,478.69. This trade represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 value of $1,000,000.00. Following the sale, the chief financial officer now directly owns 26,950 shares of the company's stock, valued at $6,737,500. The trade was a 12.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 870,721 shares of company stock worth $286,248,728 over the last 90 days. Corporate insiders own 20.70% of the company's stock.

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.