Oak Thistle LLC Has $1.14 Million Stock Position in Tesla, Inc. (NASDAQ:TSLA)

Oak Thistle LLC cut its stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) by 41.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,396 shares of the electric vehicle producer's stock after selling 3,086 shares during the quarter. Oak Thistle LLC's holdings in Tesla were worth $1,139,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. WorthPointe LLC increased its stake in Tesla by 9.0% in the first quarter. WorthPointe LLC now owns 773 shares of the electric vehicle producer's stock worth $200,000 after purchasing an additional 64 shares during the period. BCM Advisors LLC boosted its position in Tesla by 74.0% during the first quarter. BCM Advisors LLC now owns 1,039 shares of the electric vehicle producer's stock valued at $298,000 after purchasing an additional 442 shares in the last quarter. American Financial & Tax Strategies Inc. boosted its position in Tesla by 3.9% during the first quarter. American Financial & Tax Strategies Inc. now owns 1,421 shares of the electric vehicle producer's stock valued at $368,000 after purchasing an additional 53 shares in the last quarter. BlueChip Wealth Advisors LLC bought a new stake in Tesla during the first quarter valued at about $247,000. Finally, KLP Kapitalforvaltning AS boosted its position in Tesla by 2.5% during the first quarter. KLP Kapitalforvaltning AS now owns 993,210 shares of the electric vehicle producer's stock valued at $257,400,000 after purchasing an additional 24,100 shares in the last quarter. Hedge funds and other institutional investors own 66.20% of the company's stock.

Insider Activity

In other Tesla news, SVP Xiaotong Zhu sold 15,000 shares of Tesla stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $323.81, for a total transaction of $4,857,150.00. Following the completion of the sale, the senior vice president owned 67,600 shares of the company's stock, valued at approximately $21,889,556. The trade was a 18.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Vaibhav Taneja sold 6,000 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $341.02, for a total transaction of $2,046,120.00. Following the completion of the transaction, the chief financial officer directly owned 1,950 shares of the company's stock, valued at $664,989. This trade represents a 75.47% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 835,509 shares of company stock valued at $279,420,485. Corporate insiders own 20.70% of the company's stock.

Wall Street Analysts Forecast Growth

TSLA has been the topic of several recent analyst reports. Cfra Research downgraded shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Baird R W lowered Tesla from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. decreased their target price on Tesla from $120.00 to $115.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 23rd. China Renaissance reiterated a "hold" rating and set a $349.00 target price on shares of Tesla in a research report on Friday. Finally, UBS Group set a $290.00 price objective on Tesla in a research note on Monday, June 30th. Ten investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $302.75.

Tesla Stock Up 3.5%

Shares of NASDAQ:TSLA traded up $10.76 during midday trading on Friday, hitting $316.06. 147,437,834 shares of the stock were exchanged, compared to its average volume of 90,285,424. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.54 and a current ratio of 2.04. Tesla, Inc. has a 52-week low of $182.00 and a 52-week high of $488.54. The business's fifty day simple moving average is $324.70 and its two-hundred day simple moving average is $314.09. The company has a market capitalization of $1.02 trillion, a PE ratio of 182.69, a P/E/G ratio of 12.00 and a beta of 2.39.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electric vehicle producer reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). Tesla had a return on equity of 7.98% and a net margin of 6.54%. The firm had revenue of $22.50 billion for the quarter, compared to analysts' expectations of $23.18 billion. During the same quarter in the prior year, the business posted $0.52 earnings per share. Tesla's revenue was down 11.8% on a year-over-year basis. As a group, research analysts predict that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

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.