Moloney Securities Asset Management LLC Boosts Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Moloney Securities Asset Management LLC increased its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 19.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 5,862 shares of the electric vehicle producer's stock after acquiring an additional 950 shares during the period. Moloney Securities Asset Management LLC's holdings in Tesla were worth $1,519,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TSLA. Rinkey Investments raised its stake in shares of Tesla by 3.5% during the fourth quarter. Rinkey Investments now owns 860 shares of the electric vehicle producer's stock worth $347,000 after buying an additional 29 shares during the last quarter. Pitti Group Wealth Management LLC increased its position in shares of Tesla by 2.2% during the fourth quarter. Pitti Group Wealth Management LLC now owns 1,470 shares of the electric vehicle producer's stock worth $594,000 after acquiring an additional 31 shares in the last quarter. True Wealth Design LLC increased 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. increased 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 worth $32,000 after acquiring an additional 34 shares in the last quarter. Finally, Aldebaran Financial Inc. boosted its holdings in Tesla by 3.1% during the fourth quarter. Aldebaran Financial Inc. now owns 1,174 shares of the electric vehicle producer's stock worth $490,000 after purchasing an additional 35 shares during the last quarter. 66.20% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Vaibhav Taneja sold 2,000 shares of Tesla stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $300.00, for a total transaction of $600,000.00. Following the sale, the chief financial officer owned 5,924 shares in the company, valued at $1,777,200. This trade represents a 25.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total transaction of $170,636,475.60. Following the sale, the director owned 855,394 shares in the company, valued at approximately $305,632,276.20. The trade was a 35.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 835,509 shares of company stock worth $279,420,485 in the last quarter. 20.70% of the stock is currently owned by insiders.

Tesla Stock Performance

Shares of NASDAQ:TSLA traded up $13.99 during trading on Thursday, hitting $309.87. The company's stock had a trading volume of 103,742,838 shares, compared to its average volume of 100,391,799. The company has a 50-day moving average of $322.07 and a 200-day moving average of $322.26. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.00 and a quick ratio of 1.54. The firm has a market cap of $998.08 billion, a price-to-earnings ratio of 170.26, a P/E/G ratio of 8.80 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last released its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 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 the consensus estimate of $22.93 billion. During the same quarter in the previous year, the business posted $0.45 EPS. On average, sell-side analysts expect that Tesla, Inc. will post 2.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on TSLA shares. Raymond James Financial cut shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Wedbush reaffirmed an "outperform" rating and set a $500.00 price target on shares of Tesla in a report on Tuesday. The Goldman Sachs Group lifted their price target on shares of Tesla from $285.00 to $315.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Baird R W lowered shares of Tesla from a "strong-buy" rating to a "hold" rating in a report on Monday, June 9th. Finally, Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Tesla currently has a consensus rating of "Hold" and an average price target of $301.13.

About Tesla

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.