Morse Asset Management Inc Acquires 2,896 Shares of Tesla, Inc. (NASDAQ:TSLA)

Morse Asset Management Inc grew its holdings in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 28.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,207 shares of the electric vehicle producer's stock after acquiring an additional 2,896 shares during the quarter. Morse Asset Management Inc's holdings in Tesla were worth $3,423,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in Tesla in the fourth quarter worth about $56,600,000. Means Investment CO. Inc. boosted its holdings in Tesla by 37.7% during the first quarter. Means Investment CO. Inc. now owns 23,089 shares of the electric vehicle producer's stock worth $5,984,000 after buying an additional 6,323 shares during the last quarter. Focus Financial Network Inc. boosted its holdings in Tesla by 3.1% during the first quarter. Focus Financial Network Inc. now owns 22,467 shares of the electric vehicle producer's stock worth $5,823,000 after buying an additional 670 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in Tesla by 8.5% during the first quarter. IFM Investors Pty Ltd now owns 586,460 shares of the electric vehicle producer's stock worth $153,436,000 after buying an additional 46,087 shares during the last quarter. Finally, Harvard Management Co. Inc. bought a new position in Tesla during the fourth quarter worth about $8,158,000. 66.20% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the firm's 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 sale, the senior vice president directly owned 67,600 shares of the company's stock, valued at $21,889,556. This trade represents a 18.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of Tesla stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the transaction, the director owned 1,463,220 shares of the company's stock, valued at approximately $522,940,195.80. This represents a 5.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 835,509 shares of company stock valued at $279,420,485 in the last ninety days. Insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TSLA. Mizuho cut their price objective on Tesla from $390.00 to $375.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. UBS Group set a $290.00 target price on Tesla in a research note on Monday, June 30th. Argus restated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. Benchmark restated a "buy" rating and issued a $475.00 target price (up previously from $350.00) on shares of Tesla in a research note on Thursday, June 26th. Finally, Wedbush restated an "outperform" rating and issued a $500.00 target price on shares of Tesla in a research note on Tuesday, July 8th. Ten equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Tesla currently has a consensus rating of "Hold" and an average price target of $300.19.

Tesla Stock Performance

Tesla stock opened at $329.65 on Friday. 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 company has a market capitalization of $1.06 trillion, a P/E ratio of 181.13, a PEG ratio of 12.56 and a beta of 2.39. The stock's 50 day moving average is $326.27 and its 200 day moving average is $316.70. Tesla, Inc. has a twelve month low of $182.00 and a twelve month high of $488.54.

Tesla (NASDAQ:TSLA - Get Free Report) last released 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 business had revenue of $19.34 billion during 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 period last year, the company posted $0.45 earnings per share. On average, equities research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Tesla Company 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.

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