Kraft Davis & Associates LLC Purchases 988 Shares of Tesla, Inc. (NASDAQ:TSLA)

Kraft Davis & Associates LLC increased its position in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 66.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,479 shares of the electric vehicle producer's stock after acquiring an additional 988 shares during the quarter. Kraft Davis & Associates LLC's holdings in Tesla were worth $588,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its position in shares of Tesla by 79.5% during the fourth quarter. True Wealth Design LLC now owns 70 shares of the electric vehicle producer's stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Horrell Capital Management Inc. raised its stake in shares of Tesla by 75.6% during the 4th quarter. Horrell Capital Management Inc. now owns 79 shares of the electric vehicle producer's stock valued at $32,000 after purchasing an additional 34 shares during the period. GS Investments Inc. lifted its holdings in 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 position in Tesla in the 4th quarter worth about $37,000. Finally, CoreFirst Bank & Trust purchased a new position in Tesla during the 4th quarter valued at about $38,000. 66.20% of the stock is currently owned by institutional investors.

Tesla Stock Down 0.7%

Tesla stock traded down $2.15 during trading hours on Friday, hitting $323.63. The stock had a trading volume of 88,778,334 shares, compared to its average volume of 101,831,874. The stock's 50-day moving average price is $313.28 and its 200-day moving average price is $331.01. Tesla, Inc. has a 12-month low of $182.00 and a 12-month high of $488.54. The company has a quick ratio of 1.54, a current ratio of 2.00 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1.04 trillion, a P/E ratio of 177.82, a price-to-earnings-growth ratio of 12.25 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 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 during the quarter, compared to analysts' expectations of $22.93 billion. During the same quarter in the previous year, the firm earned $0.45 earnings per share. Equities research analysts anticipate that Tesla, Inc. will post 2.56 EPS for the current fiscal year.

Insider Transactions at Tesla

In other news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total value 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 $21,889,556. The trade was a 18.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Vaibhav Taneja sold 1,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the transaction, the chief financial officer now owns 1,950 shares in the company, valued at approximately $682,500. This trade represents a 33.90% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,509 shares of company stock worth $278,648,925 over the last quarter. 20.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TSLA shares. Argus reissued a "hold" rating on shares of Tesla in a report on Monday, June 9th. Royal Bank Of Canada lowered their target price on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Bank of America reduced their price target on shares of Tesla from $490.00 to $380.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. UBS Group increased their price objective on Tesla from $190.00 to $215.00 and gave the stock a "sell" rating in a research report on Monday. Finally, Wells Fargo & Company dropped their price objective on Tesla from $135.00 to $130.00 and set an "underweight" rating for the company in a research note on Friday, March 14th. 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 assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $298.37.

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.