Novare Capital Management LLC Has $2.72 Million Stock Holdings in Tesla, Inc. (NASDAQ:TSLA)

Novare Capital Management LLC lifted its position in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) by 335.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,495 shares of the electric vehicle producer's stock after acquiring an additional 8,086 shares during the quarter. Novare Capital Management LLC's holdings in Tesla were worth $2,720,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC grew its stake 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 purchasing an additional 31 shares during the period. Horrell Capital Management Inc. grew its stake 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 purchasing an additional 34 shares during the period. GS Investments Inc. grew its stake in shares of Tesla by 193.3% during the fourth quarter. GS Investments Inc. now owns 88 shares of the electric vehicle producer's stock worth $36,000 after purchasing an additional 58 shares during the period. Navigoe LLC acquired a new stake in shares of Tesla during the fourth quarter worth $37,000. Finally, CoreFirst Bank & Trust acquired a new position in Tesla in the fourth quarter valued at about $38,000. Institutional investors own 66.20% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Canaccord Genuity Group reissued a "buy" rating and issued a $303.00 target price on shares of Tesla in a research note on Monday, June 30th. JPMorgan Chase & Co. decreased their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating for the company in a research note on Wednesday, April 23rd. HSBC reissued a "reduce" rating and issued a $120.00 target price on shares of Tesla in a research note on Thursday. Cfra Research cut Tesla from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 22nd. Finally, Barclays decreased their target price on Tesla from $325.00 to $275.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. Ten research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $301.24.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $323.81, for a total value of $4,857,150.00. Following the sale, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. This trade represents a 18.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kimbal Musk sold 91,588 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $357.39, for a total value of $32,732,635.32. Following the completion of the sale, the director directly owned 1,463,220 shares in the company, 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. Over the last 90 days, insiders have sold 833,509 shares of company stock worth $278,648,925. 20.70% of the stock is currently owned by insiders.

Tesla Price Performance

Tesla stock traded down $2.09 during mid-day trading on Friday, reaching $313.56. 58,042,302 shares of the company were exchanged, compared to its average volume of 100,923,382. The company has a fifty day simple moving average of $320.93 and a 200-day simple moving average of $325.92. 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 $1.01 trillion, a PE ratio of 170.46, a PEG ratio of 9.17 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $19.34 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the business earned $0.45 EPS. As a group, equities research analysts expect 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.