Planning Directions Inc. Purchases New Position in Tesla, Inc. (NASDAQ:TSLA)

Planning Directions Inc. acquired a new stake in shares of Tesla, Inc. (NASDAQ:TSLA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,623 shares of the electric vehicle producer's stock, valued at approximately $939,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Management Associates Inc raised its stake in Tesla by 3.4% during the first quarter. Capital Management Associates Inc now owns 1,166 shares of the electric vehicle producer's stock worth $302,000 after acquiring an additional 38 shares during the period. Dupree Financial Group LLC purchased a new stake in shares of Tesla during the first quarter valued at $3,096,000. EULAV Asset Management boosted its stake in Tesla by 22.8% in the 1st quarter. EULAV Asset Management now owns 62,011 shares of the electric vehicle producer's stock worth $16,071,000 after purchasing an additional 11,501 shares during the period. Abound Financial LLC grew its stake in Tesla by 28.1% during the 1st quarter. Abound Financial LLC now owns 2,590 shares of the electric vehicle producer's stock valued at $671,000 after acquiring an additional 568 shares in the last quarter. Finally, J Hagan Capital Inc. purchased a new position in shares of Tesla during the 1st quarter valued at $296,000. Institutional investors own 66.20% of the company's stock.

Tesla Stock Down 0.7%

Shares of NASDAQ TSLA opened at $313.56 on Monday. The stock has a 50-day moving average price of $320.93 and a two-hundred day moving average price of $324.35. The company has a market cap of $1.01 trillion, a price-to-earnings ratio of 172.29, a PEG ratio of 9.17 and a beta of 2.39. Tesla, Inc. has a 12 month low of $182.00 and a 12 month high of $488.54. The company has a current ratio of 2.00, a quick ratio of 1.54 and a debt-to-equity ratio of 0.07.

Tesla (NASDAQ:TSLA - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The electric vehicle producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.26). The company had revenue of $19.34 billion for the quarter, compared to analyst estimates of $22.93 billion. Tesla had a return on equity of 9.02% and a net margin of 6.66%. During the same period in the previous year, the firm posted $0.45 earnings per share. As a group, analysts forecast that Tesla, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Canaccord Genuity Group restated a "buy" rating and set a $303.00 target price on shares of Tesla in a report on Monday, June 30th. Robert W. Baird reiterated a "neutral" rating and issued a $320.00 price target on shares of Tesla in a research report on Monday, June 9th. Raymond James Financial downgraded shares of Tesla to an "outperform" rating in a research note on Tuesday, April 22nd. Cfra Research lowered shares of Tesla from a "moderate buy" rating to a "hold" rating in a report on Tuesday, April 22nd. Finally, Royal Bank Of Canada cut their price target on shares of Tesla from $314.00 to $307.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tesla presently has a consensus rating of "Hold" and an average price target of $301.60.

Insiders Place Their Bets

In other Tesla news, CFO Vaibhav Taneja sold 6,000 shares of Tesla stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $341.02, for a total value of $2,046,120.00. Following the completion of the sale, the chief financial officer directly owned 1,950 shares in the company, valued at approximately $664,989. The trade was a 75.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robyn M. Denholm sold 112,395 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $274.12, for a total transaction of $30,809,717.40. Following the transaction, the director directly owned 85,000 shares in the company, valued at $23,300,200. This trade represents a 56.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 829,509 shares of company stock valued at $277,648,925 over the last quarter. Company insiders own 20.70% of the company's stock.

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.

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