Plan Group Financial LLC Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

Key Points

• Plan Group Financial LLC made a new investment of $218,000 in Tesla, acquiring 841 shares of the electric vehicle producer.
• Analysts have a mixed outlook on Tesla, with a consensus rating of "Hold" and a target price of $303.31.
• Insider selling has been significant, with directors Kimbal Musk and Ira Matthew Ehrenpreis selling over 600,000 shares combined in May.

Plan Group Financial LLC purchased a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 841 shares of the electric vehicle producer's stock, valued at approximately $218,000.

Several other hedge funds have also recently bought and sold shares of TSLA. Northern Trust Corp raised its stake in shares of Tesla by 21.6% during the fourth quarter. Northern Trust Corp now owns 28,579,615 shares of the electric vehicle producer's stock valued at $11,541,592,000 after purchasing an additional 5,075,418 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Tesla by 0.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 24,536,519 shares of the electric vehicle producer's stock valued at $9,908,828,000 after purchasing an additional 158,697 shares during the period. Nuveen Asset Management LLC raised its stake in shares of Tesla by 19.8% during the fourth quarter. Nuveen Asset Management LLC now owns 13,109,178 shares of the electric vehicle producer's stock valued at $5,294,010,000 after purchasing an additional 2,170,449 shares during the period. GAMMA Investing LLC raised its stake in shares of Tesla by 27,378.6% during the first quarter. GAMMA Investing LLC now owns 9,812,316 shares of the electric vehicle producer's stock valued at $2,542,960,000 after purchasing an additional 9,776,607 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Tesla by 54.3% during the first quarter. Assenagon Asset Management S.A. now owns 8,464,765 shares of the electric vehicle producer's stock valued at $2,193,728,000 after purchasing an additional 2,978,026 shares during the period. Hedge funds and other institutional investors own 66.20% of the company's stock.

Tesla Trading Up 0.7%

TSLA traded up $2.36 during trading on Thursday, reaching $322.27. The company had a trading volume of 66,349,220 shares, compared to its average volume of 91,453,784. The firm's 50-day simple moving average is $319.07 and its 200 day simple moving average is $308.84. The company has a market cap of $1.04 trillion, a price-to-earnings ratio of 186.28, a PEG ratio of 11.24 and a beta of 2.33. Tesla, Inc. has a 12-month low of $192.04 and a 12-month high of $488.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.55 and a current ratio of 2.04.

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

Insiders Place Their Bets

In other Tesla news, 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 transaction of $32,732,635.32. Following the transaction, the director owned 1,463,220 shares of the company's stock, valued at $522,940,195.80. The trade was a 5.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ira Matthew Ehrenpreis sold 477,572 shares of Tesla stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $357.30, for a total value of $170,636,475.60. Following the transaction, the director directly owned 855,394 shares in the company, valued at approximately $305,632,276.20. This trade represents a 35.83% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 606,724 shares of company stock worth $215,376,831. Insiders own 20.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TSLA shares. Argus reiterated a "hold" rating on shares of Tesla in a research note on Monday, June 9th. China Renaissance reissued a "hold" rating and set a $349.00 price target on shares of Tesla in a research report on Friday, July 25th. Stifel Nicolaus set a $450.00 price target on shares of Tesla and gave the stock a "buy" rating in a research report on Thursday, April 24th. Bank of America raised their price target on shares of Tesla from $305.00 to $341.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, Raymond James Financial downgraded shares of Tesla to an "outperform" rating in a research report on Tuesday, April 22nd. Ten analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $303.31.

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.